Thailand’s four challenges : Debt, inequality, plastics and climate change Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old. Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the…
BOT cuts key rate from 1.75 to 1.50 percent The Thai economy was expected to expand at a lower rate than previously assessed and below potential due to the slowdown of trading partner economies and global trade For the first time since 2015, the Bank of Thailand cut its benchmark interest rate on Wednesday, by…
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing investors Y Combinator, Hummingbird and Picus Capital. SINGAPORE, August 1st 2019. Y Combinator backed Aspire, who is on a mission to…
Moody’s updates rating on 11 Thai banks Moody’s Investors Service has taken rating actions on 11 Thai banks, upgrading the Baseline Credit Assessments (BCA) of six banks (1) Bangkok Bank Public Company Limited (BBL), (2) Bank of Ayudhya (BAY) (3) CIMB Thai Bank Public Company Limited (CIMBT) (4) Export-Import Bank of Thailand (EXIMT) (5) Government…
Moody’s changes Thailand’s rating outlook to positive from stable The affirmation of Thailand’s Baa1 ratings reflects the country’s very strong public and external finances that provide Thailand significant room to counter shocks. Moody’s Investors Service (“Moody’s”) has today changed the outlook on the Government of Thailand’s issuer ratings to positive from stable and affirmed the…
British and Australian expats and tourists ponder the Thai baht The British pound continues to sag against the strong Thai Baht. And things are predicted to worsen for British tourists and local expats relying on funds out of the UK, as analysts predict the GBP to drop further as the date approaches for a ‘no…
Bank of Thailand Is Open to Discuss Libra, Concerned Over Security Bank of Thailand governor Veerathai Santiprabhob said that the institution is open to discussing Facebook’s Libra stablecoin with the company, Chinese state-run press agency Xinhuanet reported on July 19. Per the report, Santiprabhob made his remarks at the Bangkok FinTech Fair on July 19, pointing out…
Bank of Thailand sends a ‘warning shot’, but little impact “The Bank of Thailand’s move to curb the rising baht is simply a “warning shot” and will have little impact on the currency’s value or on the bond and stock markets.” This is the response from Thai economists following Friday’s BOT tweaking of the economic…
Thai central bank steps in to curb baht price’s surge The baht has risen about 5.6 percent against the US dollar this year, becoming Asia’s best performing currency, putting more pressure on Thailand’s export-driven economy at a time when global demand is cooling The Bank of Thailand is taking measures to control short-term capital inflows,…
SCB cuts GDP growth forecast to 3.1% The EIC has revised downwards its Thai economic expectations in 2019 to 3.1 percent from 3.3 percent, largely as a result of the trade war between the United States and China Bangkok, (NNT) – Government investment remains the main factor in steering the economy as the trade war…