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…

Thai Banks launch packages for clients affected by COVID-19

Thai Banks launch packages for clients affected by COVID-19

Thai Banks launch packages for clients affected by COVID-19 Commercial banks in Thailand have offered refinancing services to some 30,000 clients, worth 234 billion baht in total. All commercial banks in Thailand have pledged to offer special financial aid to customers and businesses affected directly or indirectly by the economic implications of COVID-19, ensuring sufficient…

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020 Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in…

Thai central bank steps in to curb baht price’s surge

Thai central bank steps in to curb baht price’s surge

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%

SCB cuts GDP growth forecast to 3.1%

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…

Bangkok Bank’s President on Thailand Economy and Digital Banking

Bangkok Bank’s President on Thailand Economy and Digital Banking

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…