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 slash growth forecast around 2%

Thai banks slash growth forecast around 2%

Thai banks slash growth forecast around 2% Thai growth may be around 2% or less, said two major Thai commercial banks and a senior official of the Bank of Thailand. Several major Thai banks have drastically reduced their GDP growth forecast for 2020 citing the coronavirus epidemic, drought and fiscal delays. The coronavirus epidemic, the…

BOT relaxes rules to Curb Strong Baht

BOT relaxes rules to Curb Strong Baht

BOT relaxes rules to Curb Strong Baht the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht. The Thai baht has been under pressure due to imbalanced capital flows in the current environment of highly uncertain and volatile external conditions,…

Building ASEAN Banking Cybersecurity resilience

Building ASEAN Banking Cybersecurity resilience

Building ASEAN Banking Cybersecurity resilience Technological revolutions come with their own form of risk: cyber risks. The more “digital” banks become, the more channels for potential points of attacks from cyber criminals, who are constantly evolving to exploit new loopholes. Technology and the internet have undeniably become integrated into our daily lives. Customers’ behaviors continue…

Thailand prepares for cryptocurrency challenges

Thailand prepares for cryptocurrency challenges

Thailand prepares for cryptocurrency challenges Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years. The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including…

Thailand’s biggest debt trap is not Chinese

Thailand’s dangerous debt addiction

Thailand’s dangerous debt addiction Thailand is now a top-ten highest household debt country among 89 countries worldwide and third highest among 29 Asian countries. Thailand’s household debt has steadily increased to 78.6% of the country’s gross domestic products (GDP), or Bt12.8 trillion in the fourth quarter of last year, according to figures from the National…