Thailand’s financial system more vulnerable amid COVID-19: BoT

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…

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

Thai baht firms to 5-month high

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

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

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…

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Thai bank forecasts 7.3% GDP contraction in 2020

Thai bank forecasts 7.3% GDP contraction in 2020 Siam Commercial Bank’s Economic Intelligence Centre (EIC) has further revised downward its economic projection for this year to an economic contraction of 7.3 per cent. Lockdowns triggered by the coronavirus across the globe have led the Economic Intelligence Center of Siam Commercial Bank (EIC SCB) to predict…

Thailand cuts key rate to record low to help economy

Thailand cuts key rate to record low to help economy

Thailand cuts key rate to record low to help economy The Monetary Policy Committee (MPC) under the Bank of Thailand (BoT) on May 20 cut its policy rate by 25 basis points to a record low of 0.5 percent, to help soften the economic impact of the pandemic and social distancing measures. Bangkok (VNA) – The Monetary…