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…
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…
Bank of Thailand Holds Key Rate as It Warns of Currency’s Gains The Bank of Thailand left its benchmark interest rate unchanged for a fourth straight meeting, while at the same time downgrading its economic growth outlook and raising concerns about the strong currency. The Monetary Policy Committee voted unanimously to hold its key rate…
Bangkok Bank’s President on Thailand Economy and Digital Banking Chartsiri Sophonpanich, president at Bangkok Bank, discusses the U.S.-China trade war, its impact on Thailand, growth in the country, their loss of market share, asset quality and his plans for digital banking. He speaks exclusively on “Bloomberg Markets: Asia” from the sidelines of the Bloomberg Asean…
Thailand launches blockchain letters of guarantee network for 22 banks 22 Thai banks have joined an electronic Letter of Guarantee (e-LG) network on blockchain via BCI (Thailand) Co Ltd with support from the Bank of Thailand (BOT). The e-LG on blockchain is expected to go live in June under the BOT’s regulatory sandbox, before introducing…
Thai bank loans may grow only 5-6 pc this year: central bank BANGKOK: Thailand’s commercial bank loans may grow 5-6 pc this year, less than the 6-7pc increase seen three months ago, a central bank official said on Tuesday. In January-March, lending rose 5.6 pc from a year earlier, slowing from a 6 pc rise…
Airbnb and Thailand’s Government Savings Bank partner to support local homestays GSB will help ensure better funding for hospitality entrepreneurs while Airbnb will help build capacity through training and connecting homestay owners to its worldwide platform. Bangkok, Thailand – Airbnb and Thailand’s Government Savings Bank (GSB) have formed a strategic partnership to help promote and empower Thai hospitality entrepreneurs,…
First-home stimulus measure may have limited impact on Thailand’s housing market The first-home buyers who make less than 25,000 baht per month however will not benefit from this scheme. The Thai government has released a housing stimulus measure which grants personal income tax allowance for buyers of first homes worth up to 5 million baht…
Thai central bank says it has not manipulated currency THAILAND’S central bank has not intervened in the trading of the baht to gain a trade advantage with the United States, an assistant governor said on Monday, amid speculation that Washington may soon add the country to a currency watch list. “Thailand has some trade surplus…