BoT sees slower recovery in 2021

BoT sees slower recovery in 2021 Thailand’s economic recovery is expected to take longer than previously anticipated, mainly due to the drastic decline in foreign tourist numbers, says the Bank of Thailand. The central bank slashed its GDP growth forecast for 2021 from 5% to 3.6% as the pandemic continues to hamper international travel. The…

Economics hotshot named new central bank governor

Economics hotshot named new central bank governor

Economics hotshot named new central bank governor A Government House source said the Cabinet on Wednesday (July 29) approved prime minister’s adviser Sethaput Suthiwart-Narueput as the new Bank of Thailand (BOT) governor. The term of the current central bank governor, Veerathai Santiprabhob, ends on September 30. Sethaput was nominated by a selection committee and handed over…

BOT predicts 5.3% contraction in Thai economy for 2020

BOT predicts 5.3% contraction in Thai economy for 2020

BOT predicts 5.3% contraction in Thai economy for 2020 Even the Thai economy, which was still maintaining respectable growth before January, is now spluttering under the siege of the Covid-19 virus. Now the Bank of Thailand has crunched some numbers and believes the Thai economy will sharply contract by 5.3% this year as the virus…

BoT trims growth forecast to 3.3% from 3.8%

BoT trims growth forecast to 3.3% from 3.8%

BoT trims growth forecast to 3.3% from 3.8% The bank of Thailand while maintaining a policy rate of 1.75 percent per year, announced that in 2019, the economy will expand at the lower rate of 3.3 percent from 4.1 percent in 2018, BANGKOK, 28 June 2019(NNT) – The Bank of Thailand (BOT) announced yesterday that…