Exim Bank beefs up new target The Export-Import Bank of Thailand (Exim Thailand) has upgraded its target for new loans this year to 145 billion baht from 138 billion, even with the economy suffering from the pandemic. President Rak Vorrakitpokatorn said he is confident the bank can achieve the new target. Exim Thailand plans to…
Bank of Thailand Keeps Key Interest Rate at Record Low BANGKOK (NNT) – The Bank of Thailand (BoT) has kept its key interest rate unchanged, keeping it at a record low of 0.5% on Wednesday, as the economy struggles with a third wave of COVID-19. The central bank said in a statement that economic growth…
Thailand increases durian exports to China by 14% this year Thailand has exported 14% more durian to China in this year’s first quarter over the same period last year. The Trade Negotiations Department Director General says Thai durian auctions in the first quarter secured 186 million, making up 88% of the total amount of Thai durian…
GDP forecast dropped to 1-2% with best, middle and worst case scenarios Mass vaccination will be the key stop the slump in economic growth after the Bank of Thailand revised their 2021 GDP forecast to between 1 – 2%. They had previously estimated a 3% growth in the gross domestic product but are now creating…
Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy (Bloomberg) — Thailand is planning to spend billions of dollars in providing financial relief to low-income groups to cope with the economic hit from the biggest Covid-19 outbreak sweeping the nation since the pandemic began. The cabinet gave in-principle approval on Wednesday for fiscal stimulus measures…
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 denies manipulating exchange rate to gain unfair trade advantage The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage. BoT assistant governor Chantavarn Sucharitakul said the…
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…
Thailand Has Never Used Exchange Rate to Gain Unfair Trade Advantage BANGKOK (NNT) – The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage. BoT assistant governor Chantavarn…