• Commerce Ministry willing to talk to private sector to control cost of living. The aim of the ministry is to limit any increase in staple goods prices, but it has left the door open for talks in case producers wish to raise prices. The Minister further said that the minister will not allow any increase in price without substantial proof that costs are rising. (Post Today, 25/09/14)
• Finance Minister hoping to quickly close the rice subsidies case, without the final report of the investigation. He said that losses can be estimated from market price and quality samples. (Post Today, 25/09/14)
• BoT growth forecast may rise slightly – The Bank of Thailand’s latest forecast for economic growth this year is likely to be close to its earlier prediction of 1.5%, while export growth is expected to be lower than projected. (Bangkok Post, 23/09/14)
• PM Prayuth to visit Myanmar to promote ASEAN integration, Mea Sod development and the possible revival of Dawei. Early signs from Dawei suggest it will be good for both countries. (Krungtep Thurakij, 23/09/14)
• BoT governor says effect of the VAT increase need to be looked at carefully. He said that there will be a definite effect on consumption, but if used with correct policies and timing, the government can mitigate the negative effects and avoid the situation
• US unlikely to sanction Thailand regarding human rights. The Commerce Ministry also hopes that Thailand will no longer be listed on the next Tier III labour list three years from now. (Krungtep Thurakij, 20/09/14)
• Dawaii back on the table. Gen. Prayuth visits Myanmar on the 1-2 of Oct. The project talks will also resume with the Japanese counterparts hoping for more support for the project. (Prachachart Thurakij, 22/09/14)
• Headline vs. core inflation — The BoT and Finance Ministry will meet to discuss using headline inflation to measure inflation rather than non-core as it more truly reflects the cost of living. The move is strongly back by academia and experts alike. (Prachachart Thurakij, 22/09/14)
• Domestic consumptions likely to stay weak despite the recent recovery. Domestic consumption will be dogged by the high level of household debt. The government is also looking at ways to help the poor without giving cash handouts. (Prachachart Thurakij, 22/09/14)

Globally

• US: New orders for manufactured durable goods tumbled 18.2% in August, said the U.S. Commerce Department Thursday. The decline partially offset a surge of 22.5% in July driven by strong demand for commercial aircraft. (Xinhua, 25/09/14)
• The number of Americans who initially applied for jobless benefits in the week ending Sept. 20 rose 12,000 to a seasonally adjusted 293,000, reported the U.S. Labor Department. Despite the increase, initial claims remained near a pre-recession low, a sign that the U.S. labor market was steadily improving. (Xinhua, 25/09/14)
• U.S. service sector activity continued to expand in September but at a slower pace, said financial data firm Markit. The seasonally adjusted Flash U.S. Services Purchasing Managers’ Index posted 58.5 in September, down from August’s final reading of 59.5 but still well above the neutral 50.0 threshold. (Xinhua, 25/09/14)
• Eurozone interest rates to remain low, says ECB chief – Interest rates in the eurozone will remain at the present low level for an extended period, Mario Draghi, president of the European Central Bank (ECB), said Wednesday. (Xinhua, 25/09/14)
• Developing Asia to maintain stable growth this year: ADB report – The ADB kept its forecasts for growth of gross domestic product (GDP) for developing Asia at 6.2 percent in 2014 and 6.4 percent in 2015, the fastest-growing economy globally, said the updated Asian Development Bank Outlook 2014. (Xinhua, 25/09/14)
• US sales of new single-family houses surged 18% in August to a seasonally adjusted annual rate of 504,000 units, the highest level in more than six years, said the U.S. Commerce Department on Wednesday. (Xinhua, 24/09/14)
• U.S. crude stockpiles decreased 4.3 million barrels last week to 358 million barrels, according to a report from the Energy Information Administration. The sharp drop of supply in the United States pushed up crude prices. (Xinhua, 24/09/14)
• India Supreme Court cancels hundreds of coal licenses – India’s Supreme Court canceled hundreds of coal-mining licenses, adding uncertainty beyond the struggling coal industry to the heart of Asia’s third-largest economy. (WSJ, 24/09/14)
• U.S. existing home sales slow down in Aug. – Total existing home sales, which consist of completed transactions of single-family homes, townhomes, condominiums and co-ops, fell 1.8% to a seasonally adjusted annual rate of 5.05 million units in July from a slight downwardly-revised 5.14 million in July. (Xinhua, 22/09/14)
• Fitch Affirms Triple-A Rating for U.S. – Fitch Ratings Inc. affirmed its Triple-A rating for the U.S., citing the nation’s “unparalleled financing flexibility as the issuer of the world’s pre-eminent reserve currency and benchmark fixed-income asset, and as home to the world’s deepest and most liquid capital markets.” (WSJ, 22/09/14)
• IMF’s Lagarde lauds G20 countries’ progress in lifting growth – Managing Director of the International Monetary Fund (IMF) Christine Lagarde on Saturday commended Group of 20 (G20) countries’ significant progress in developing growth strategies to lift medium-term growth. (Xinhua, 22/09/14)
• Aso plans new extra budget to cushion sales tax hike to 10% – The Abe administration will compile another extra budget to mitigate the economic impact of the October 29015 tax hike, Finance Minister Taro Aso indicated on Friday. (Kyodo, 20/09/14)