Bank of Thailand Holds Key Rate as It Warns of Currency’s Gains The Bank of Thailand left its benchmark interest rate unchanged for a fourth straight meeting, while at the same time downgrading its economic growth outlook and raising concerns about the strong currency. The Monetary Policy Committee voted unanimously to hold its key rate…
Thailand launches blockchain letters of guarantee network for 22 banks 22 Thai banks have joined an electronic Letter of Guarantee (e-LG) network on blockchain via BCI (Thailand) Co Ltd with support from the Bank of Thailand (BOT). The e-LG on blockchain is expected to go live in June under the BOT’s regulatory sandbox, before introducing…
Thai bank loans may grow only 5-6 pc this year: central bank BANGKOK: Thailand’s commercial bank loans may grow 5-6 pc this year, less than the 6-7pc increase seen three months ago, a central bank official said on Tuesday. In January-March, lending rose 5.6 pc from a year earlier, slowing from a 6 pc rise…
Thailand’s biggest debt trap is not Chinese Thai household debt ratio at 78.6 percent is among the top three countries with the highest household debt in Asia. The so called “Chinese debt trap” has drawn a lot of commenting in the media, but Thailand’s biggest debt trap is still home-grown and has reached the value…
Thai banks face tough competition in digital world Although the Thai commercial banks achieved higher net profits in the first quarter of 2019, they expect a tough year ahead amid aggressive competition in the digital era. The Thai government’s plan to turn Thailand into a cashless society has prompted local banks to remodel their business…
Tax exemption to be clarified for annual interest less than 20,000 baht The banks will have to submit interest income information to the Revenue Department for consideration BANGKOK, 25 April 2019(NNT) – On the requirement for depositors with an interest income of less than 20,000 baht per annum, officials from the Revenue Department, the Thai…
SCB cuts thai growth forecast to 3.6% The SCB’s Economic Intelligence Center (EIC) has reduced its growth projection for the Thai economy this year to 3.6% from a previous expectation of 3.8%. Trade war puts brakes on exports According to first executive vice-president Yunyong Thaicharoen, this is mainly due to the decreasing trends of the…
MOU SIGNING Thai, Lao central banks enhance cooperation The Bank of Thailand and the Bank of Laos PDR have signed a memorandum of understanding (MOU) on cooperation in the areas of financial innovation and payments systems in Chiang Rai yesterday after the meeting of the 5th Asean Finance Ministers’ and Central Governors’ Meeting and related…