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…
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…
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…
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…
Thailand Widens Fiscal Stimulus With Tax Breaks to Spur Growth Thailand will extend tax incentives to millions of its middle and upper income groups to fire up consumption and counter the nation’s worst economic slump triggered by the coronavirus pandemic. The concession will allow about 3.7 million taxpayers to deduct 30,000 baht ($96) each from…
Thai Lenders Able to Deal With Virus Impact, Central Bank Says (Bloomberg) — Thailand’s commercial banks are financially sound and are able to withstand any economic impact from the pandemic, Bank of Thailand Deputy Governor Ronadol Numnonda said in a statement Sunday. A portrait of Thai King Maha Vajiralongkorn, center, is displayed on a one…
Thai economy improved in June says Bank of Thailand In June 2020, the Thai economy improved from the previous month due to the gradual relaxation of lockdown measures both in Thailand and abroad, supporting economic activities to resume operations In June 2020, the Thai economy improved from the previous month due to the gradual relaxation…
Baht strengthens in opening trade The baht opened at 31.44 to the US dollar this morning (July 29), strengthening from Friday’s close of 31.69. The Thai currency is expected to move between 31.35 and 31.85, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities. On Tuesday night (Thailand time), the S&P500 decreased by 0.6…
Thailand’s financial system more vulnerable amid COVID-19: BoT Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook due to impacts caused by the COVID-19 pandemic, according to the Bank of Thailand (BoT). Bangkok (VNA) – Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook…