UPDATE 1-Thai central bank concerned about baht leap, but no pressing need for QE LONDON, Nov 24 (Reuters) – Thailand’s central bank governor said on Tuesday the speedy rise of the country’s baht currency was causing concern, but played down the chance of launching unconventional measures such as mass bond purchases any time soon. Thailand’s…
Bank of Thailand steps in to curb recent baht strength Bank of Thailand accelerates measures to advance the development of the new Thai FX Ecosystem and to limit excessive currency volatilities In a press release published on the 20th of November, the central bank’s Monetary Policy Committee (MPC) has expressed concerns over the rapid appreciation…
Standard and Poor’s maintain Thailand’s credit rating at BBB+ The agency is confident in Thailand’s finances, in spite of measures needed to respond to COVID-19, resulting in a deficit for 2020-2021 and hiking state debt. BANGKOK (NNT) – Standard and Poor’s credit rating agency has kept its level of confidence in Thailand at BBB+, in…
Thai banks remain resilient in Q3 2020 but profits declined Ms. Suwannee Jatsadasak, Senior Director, Bank of Thailand, reported on the Thai banking system’s performance in the third quarter of 2020 that the Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to support economic recovery from the COVID-19…
Baht weakens just before BOT monetary policy meet The baht opened at 30.19 to the US dollar on Wednesday, weakening from 30.16 at close on Tuesday. The Thai currency is likely to move between 30.10 and 30.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities. On Tuesday night, the US…
Thai central bank has tools to handle strong baht: Finance Minister BANGKOK (CNA) – Thailand’s central bank has the necessary policy tools to handle the strengthening of the baht, the Finance Minister said yesterday, as the currency hit its highest level in more than 10 months against the United States (US) dollar. The baht’s strength…
Thailand borrows US$ 1.5 billion from ADB to fight Covid-19 The ADB’s program supports the government’s efforts to counter the impacts of the coronavirus disease (COVID-19). The borrowing is a part of an executive emergency decree empowering the Thailand’s Finance Ministry to seek loans up to one trillion baht ($32 Bln) to combat economic and…
Debt clinics will not clear your debts, only make payments easy: ministry The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million. The debt clinics have been organised in cooperation with Sukhumvit Asset…
Fitch confirms Thailand’s rating at ‘BBB+’ with a Stable Outlook Thailand’s ratings are supported by strong public and external finances, which have provided buffers to respond to the economic shock and market volatility associated with the coronavirus pandemic. Fitch Ratings – Hong Kong – 29 Oct 2020: Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer…
Bank of Thailand extends debt repayment and interest reduction measures As of September this year, the Debt Clinic project has helped some 8,300 card debtors. On average, each debtor has three cards, carrying a debt of about 240,000 baht each. BANGKOK (NNT) – The Bank of Thailand has extended its debt repayment and interest reduction…