What goes up must come down – the battle of the baht

Thai baht firms to 5-month high

Banking

Thai baht firms to 5-month high Bank of Thailand likely to keep rates unchanged at record low. The Thai baht firmed along with other Asian currencies on Wednesday, as investors expect the central bank to keep its policy rate unchanged while the dollar weakened following stronger US and European economic data. US business activity contracted…

BoT forecasts record contraction

BoT forecasts record contraction

Banking

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,…