Thailand: BoT keeps rates unchanged – UOB UOB Group’s Economist Barnabas Gan reviews the latest monetary policy meeting by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% as widely expected for the eighth consecutive meeting on 05 May 2021. The last time it…
UPDATE 2-Thai c.bank keeps policy rate at record low, warns of COVID-19 risks * Central bank holds key rate at record low 0.50%, as expected * Says economy to expand sharply less than forecast this year * Says monetary policy to remain accommodative * Says fiscal policy, exports to support economy (Adds GDP scenarios, analyst…
Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes. The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) have launched on Thursday a linkage of Thailand’s…
BoT Will Launch Retail CBDC to Secure Financial Services BANGKOK (NNT) – The Bank of Thailand (BoT) will launch the Retail Central Bank Digital Currency (CBDC) by the second quarter next year to provide Thais with access to more convenient and secure financial services. BoT assistant governor Vachira Arromdee said the development of a Retail CBDC…
Bank of Thailand to begin central bank digital currency tests in 2022 Thailand’s central bank is calling for public comments on its proposed plan to launch a sovereign digital currency within the next five years. The Bank of Thailand has set its agenda for a retail central bank digital currency, with preliminary testing protocols scheduled…
Thailand’s central bank planning to regulate stablecoins this year The growth of cryptocurrencies over the past couple of years has pushed many countries towards stricter regulations, while some have moved to ban the asset class altogether. Thailand is one of the former countries, with the nation-state weighing the pros and cons of cryptos and stablecoins…
China, UAE join Thailand and HK in central bank digital currency project BANGKOK – China and the United Arab Emirates have joined the cross-border digital transaction scheme named Project Inthanon-LionRock, which is a joint project between the Bank of Thailand (BOT) and the Hong Kong Monetary Authority (HKMA). The central bank digital currency (CBDC) project has…
Thailand Rates Seen on Hold as Fiscal Takes Lead: Decision Guide (Bloomberg) — Thailand’s central bank will likely hold its key interest rate steady at an all-time low and let fiscal policy take the lead in reviving the economy amid a resurgence of Covid-19. Twenty-five of 27 economists surveyed by Bloomberg expect the Bank of…
BoT sees mild impact of new COVID-19 wave on the economy The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended. BANGKOK (NNT) – Despite a new and wider…
Thai Central Bank Holds Key Rate, Cuts Growth Forecast for 2021 (Bloomberg) — The Bank of Thailand kept its benchmark interest rate unchanged for a fifth straight meeting to preserve its limited policy space, while reiterating concerns about a currency rally and lowering its economic growth forecast for next year. The central bank held the…