UK, Bank of Thailand sign MoU on financial services

UK, Bank of Thailand sign MoU on financial services The UK and the Bank of Thailand signed MoU to support Thailand’s inclusive economic recovery and green growth in line with the Sustainable Development Goals The UK Government and the Bank of Thailand (BoT) signed a Memorandum of Understanding (MoU) on 7 August 2020, forming a…

Relentless Rise Of Thai Baht Causes Exporting Concerns

MPC sticks with 0.50%, eyes baht

MPC sticks with 0.50%, eyes baht The Bank of Thailand’s Monetary Policy Committee (MPC) voted to keep its policy rate unchanged at 0.50% yesterday and will continue monitoring the baht’s strength as capital inflows result from abundant global liquidity. The MPC voted unanimously to maintain the record-low benchmark interest rate, assessing that the economy would…

Central bank sees low level of inflation

Central bank sees low level of inflation Headline inflation should remain at a low level for a period of time, though there is high uncertainty surrounding its path, the Bank of Thailand’s chief said in an open letter to the finance minister. The central bank’s rate-setting Monetary Policy Committee (MPC) has projected headline inflation over…

Setthaput latest to vie for BoT post

Setthaput latest to vie for BoT post Six candidates in the race for central bank governor as application deadline passes Setthaput Suthiwart-Narueput, a member of the Monetary Policy Committee and the prime minister’s advisory team, has joined the race for the top job at the Bank of Thailand, bringing the number of contenders to six.…

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…