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…
Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave (Bloomberg) — Thailand’s central bank kept its benchmark interest rate unchanged for an eighth straight meeting, warning its forecast for an economic recovery was threatened by the country’s biggest virus wave since the pandemic began. The Bank of Thailand held the policy rate Wednesday…
Bank of Thailand to introduce assistance measures amid COVID-19 surge BANGKOK (NNT) – The Bank of Thailand (BoT) is ready to introduce necessary assistance measures in addition to recent support schemes, which the government approved financial measures worth 350 billion baht to help business cope with the outbreak impact. BoT Deputy Governor Ronadol Numnonda said…
Thailand central bank unfazed by US currency watchlist inclusion Bank of Thailand headquarters buildings in Bangkok. Thailand’s central bank has responded to the US decision to keep the nation on watch for currency manipulation by asserting it has stepped into the market only to curb volatility in the baht. Bloomberg/Bangkok The Bank of Thailand has…
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…
Thai central bank revises down 2021 growth to 3.0% Bank maintains policy rate but provides new $11 billion aid to business Bangkok — The Bank of Thailand revised down its 2021 growth forecast, as the resurgence of COVID-19 in Southeast Asia’s second largest economy over the last few months had led to the closure of…
Thai central bank leaves rate at record low, warns of economic risks Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, February 3, preserving its limited policy ammunition, but warned of risks as the country deals with a fresh wave of coronavirus infections. Southeast Asia’s second largest economy continues to recover…
Thailand moves to cool baht rally that threatens pandemic recovery [BANGKOK] Thailand will ease rules on capital outflows to cool a currency rally that’s threatening to derail a rebound in exports and the economy’s recovery from the pandemic. “Following the US elections and positive news on Covid-19 vaccine development, investors have turned toward investing in…
Bank of Thailand takes action to curb Thai baht’s strength The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas…
Thai central bank announces series of measures to contain baht rise BANGKOK (CNA) – Thailand’s central bank unveiled yesterday new measures aimed at balancing capital flows after warning a rapid jump in the baht risked undermining the economy amid renewed inflows into emerging markets. The Bank of Thailand will allow Thais to freely deposit and…