Connect with us

Economics

Thai central bank keep policy interest rate unchanged at 1.25%

BANGKOK, Jan 13 (TNA) The Bank of Thailand (BoT) maintained the policy interest rate at 1.25 per cent annually to favour economic recovery. The Monetary Policy Committee (MPC) meeting on Wednesday op…

Published

on

The Bank of Thailand (BoT) maintained the policy interest rate at 1.25 per cent annually to favour economic recovery. The Monetary Policy Committee (MPC) meeting on Wednesday opted to keep the policy interest rate unchanged, BoT assistant governor Paiboon Kittisrikangwan said in a statement.

“The global economy continues to improve. However, risks to economic recovery in the period ahead remain, especially for the major industrialised economies,” the BoT statement said.

“The Asian economies are likely to recover sooner, giving rise to policy differentials which may lead to more volatile capital flows going forward. Asian currencies therefore are volatile,” it said.

“The MPC will not allow the interest rate to remain low for too long to avert a liquidity problem, leading to the bubble economy,” Mr Paiboon said.

“The latest economic data pointed toward a continued recovery of the Thai economy. Main supporting factors include improvements in private consumption, income from tourism, exports and agricultural sectors. Nevertheless private investment remains subdued,” said the statement.

Read more from the original source:
Thai central bank keep policy interest rate unchanged at 1.25%

The current baht rate is not an obstacle to economic recovery, so the BoT does not have to launch any special measures.

External stability in Thailand was upheld by high international reserves, while trade and current account were close to balance. Regarding internal stability, inflation rose from last year in line with higher oil prices, despite a downward trend during the second half of the year. Unemployment rate remained low in Thailand in 2008 but employment started to deteriorate in the forth quarter, particularly in the production sector affected by economic slowdown.

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Economics

Thailand’s Economy and COVID-19: Five Things to Know

Thailand’s GDP fell by 6.1 percent in 2020, the largest contraction since the Asian financial crisis. The tourism sector, which accounts for about a fifth of GDP and 20 percent of employment, has been especially affected by the cessation of tourist travel.

Published

on

Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,153 other subscribers

Recent