Thailand cuts key rate to record low to help economy The Monetary Policy Committee (MPC) under the Bank of Thailand (BoT) on May 20 cut its policy rate by 25 basis points to a record low of 0.5 percent, to help soften the economic impact of the pandemic and social distancing measures. Bangkok (VNA) – The Monetary…
Thai central bank seen cutting key rate to help economy in recession BANGKOK (Reuters) – Thailand’s central bank is widely expected to cut its benchmark interest rate to a new low at its policy review on Wednesday to cushion the economy from the impact of the coronavirus outbreak. FILE PHOTO: A view of the Bank…
Lazada and Aspire partner to provide online merchants with immediate access to working capital during the COVID-19 In this partnership with Lazada, Aspire is offering working capital loan of up to 20,000 THB within 3 hours of application – a departure from the weeks’ long industry standard timeline normally offered by traditional Banks. THAILAND –…
The Bank of Thailand Bond Issuance Program for 2020 (1st Revision) The Bank of Thailand (BOT) regularly issues BOT bonds, one of the monetary policy instruments, to manage liquidity in the money market and foster liquid and efficient debt securities market in Thailand. The annual BOT bond issuance program is communicated to the market at…
Moody’s downgrades Thailand’s rating outlook to stable from positive The decision to change the outlook to stable reflects Moody’s view that the drivers of the outlook change to positive last July have become significantly less likely to materialize. Singapore, April 21, 2020 — Moody’s Investors Service (“Moody’s”) has today changed its outlook on the Government…
Thailand’s Banking Outlook changed to negative (Moody’s) Moody’s has changed the outlook for Thailand’s banking system to negative from positive as coronavirus outbreak hurts asset quality and profitability Moody’s has changed the outlook for Thailand’s banking system to negative from positive. The operating environment for the country’s banks will deteriorate in the next 12-18 months…
Thai Banks launch packages for clients affected by COVID-19 Commercial banks in Thailand have offered refinancing services to some 30,000 clients, worth 234 billion baht in total. All commercial banks in Thailand have pledged to offer special financial aid to customers and businesses affected directly or indirectly by the economic implications of COVID-19, ensuring sufficient…
Thailand raises threshold to 1 million US dollars for repatriation In a bid to lessen pressure on the Thai baht, the Bank of Thailand has increased to $1M the limit for foreign funds that do not need to be repatriated The Bank of Thailand has relaxed foreign exchange regulations by increasing the threshold for proceeds…
Thailand’s banks to reach unbanked customers In this Global Platform video, Tan Choon Hin, CEO of United Overseas Bank Thailand, discusses industry trends across ASEAN, including regional integration and the push towards Industry 4.0. For Thailand, the digitalisation strategy that is being pursued under Thailand 4.0 is improving internet infrastructure, which in turn is opening up opportunities…
Thai banks slash growth forecast around 2% Thai growth may be around 2% or less, said two major Thai commercial banks and a senior official of the Bank of Thailand. Several major Thai banks have drastically reduced their GDP growth forecast for 2020 citing the coronavirus epidemic, drought and fiscal delays. The coronavirus epidemic, the…