World Bank supports continued government economic stimulus BANGKOK (NNT) – The World Bank has encouraged the Thai government to continue its economic stimulus measures with a focus on businesses directly impacted by the COVID-19 pandemic such as those in the tourism sector. Senior country economist of the World Bank for Thailand Kiatipong Ariyapruchya has noted…
Krungthai Bank sees e-banking growth from gov’t COVID-19 measures BANGKOK (NNT) – Krungthai Bank has reported a jump in e-banking platform users, thanks to the government’s COVID-19 aid measures which familiarized the general public with electronic transactions via a mobile e-wallet application developed by the bank. Krungthai Bank Executive Director Krisada Chinavicharana disclosed today the…
APAC corporates likely to improve in 2021 Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies. Ongoing fiscal and monetary support in both advanced and emerging markets will…
Thai Central Bank Holds Key Rate, Cuts Growth Forecast for 2021 (Bloomberg) — The Bank of Thailand kept its benchmark interest rate unchanged for a fifth straight meeting to preserve its limited policy space, while reiterating concerns about a currency rally and lowering its economic growth forecast for next year. The central bank held the…
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…
MPC sticks with 0.50%, eyes baht The Bank of Thailand’s Monetary Policy Committee (MPC) voted to keep its policy rate unchanged at 0.50% yesterday and will continue monitoring the baht’s strength as capital inflows result from abundant global liquidity. The MPC voted unanimously to maintain the record-low benchmark interest rate, assessing that the economy would…
Thai central bank seen holding key rate at record low to preserve ammunition – Reuters poll BANGKOK (Reuters) – Thailand’s central bank is widely expected to leave its key interest rate unchanged at a record low after three cuts this year to help cushion the economic impact of the coronavirus pandemic, a Reuters poll showed.…
BoT forecasts record contraction The Bank of Thailand has reduced its economic outlook to a contraction of 8.1% this year, deeper than the 1997 financial crisis, but kept the policy rate on hold at 0.50%. The latest economic forecast for 2020 is worse than the record contraction of 7.6% for the Tom Yum Kung crisis,…
Baht’s rise worries govt; BOT blames it on a weaker dollar Though the Finance Ministry is worried about the fast rising baht, the central bank assures that the baht is only strengthening in line with regional currencies. Finance Minister Uttama Savanayana said on Thursday (June 11) that the Bank of Thailand understands that the currency…
BOT senior director says boosting liquidity essential for economic recovery The Bank of Thailand is revising its forecast of the country’s gross domestic product (GDP) this year, which will be announced officially on June 24, said the central bank’s senior director, Don Nakornthab. FILE PHOTO: A view of the Bank of Thailand in Bangkok, Thailand April…