Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave

Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave

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…

Thai economy shrinks at fastest pace in eight years

Thai economic recovery trails others in Asia – ADB

Thai economic recovery trails others in Asia – ADB Developing Asia’s economy will rebound faster this year than previously estimated, as nations tread diverging recovery paths, according to the Asian Development Bank. Southeast Asia’s forecast was lowered to 4.4% growth this year amid reduced projections for Malaysia, the Philippines and Thailand. The region’s gross domestic…

Higher Spending Supports Economic Recovery in February

Higher Spending Supports Economic Recovery in February BANGKOK (NNT) – The Bank of Thailand (BoT) has reported that the economy gradually recovered in February, mainly supported by higher private consumption and a slower spread of Covid-19. BoT’s senior director of the economic and policy department Chayawadee Chai-Anant said higher private consumption is largely due to improvement…

Chamber pledges economic revival

Chamber pledges economic revival

Chamber pledges economic revival The Thai Chamber of Commerce vows to help revitalise the economy in 99 days under its “Connect the Dots” policy, with faster Covid-19 vaccine distribution at the core. By connecting the dots, the chamber means it will work as a focal point to connect the state and private sector and individuals…

Thai baht lowest since January

Thailand’s slow economic recovery

Thailand’s slow economic recovery Author: Juthathip Jongwanich, Thammasat University Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic. The contraction in GDP fell to 6.4 per cent year-on-year, down from 12 per cent in the second quarter. Signs of recovery in key industries such as electronics…

Government planning new strategies to boost economic recovery

Government planning new strategies to boost economic recovery Energy minister and deputy PM Supattanapong Punmeechaow has outlined a number of strategies the government hopes will help the Thai economy recover from the Covid-19 fallout. The Eastern Economic Corridor, the special economic zone covering the eastern provinces of Rayong, Chon Buri and Chachoengsao, continues to eye…

Krungthai Asset launches new fund to ride economic recovery

Krungthai Asset launches new fund to ride economic recovery Krungthai Asset Management (KTAM) has launched the initial public offering (IPO) of the Krung Thai Trigger Fund 4 (KT-TRIG4), claiming that the economic recovery was the fund’s supporting factor. The IPO opened on Tuesday and closes on Thursday. Chavinda Hanratanakool, KTAM’s chief executive officer, explained that…

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…