Its rare that the BOT chief will be interviewed on Bloomberg there are one or two decent responses from K. Veerathai regarding the economy and the currency, so enjoy part of the transcript and a link to the rest of the article/video. Question: How concerned are you about a possible protectionist backlash? Answer: In […]
Read More →Its 1Q13 earnings season and YoY comparisons are looking good b/c of last year’s low base (just a few months post the floods in 4Q11), going forward with the BoT looking to curb ST investments in the bond market resulting in the Thai baht finally weakening and no news flow locally, we wouldn’t be surprised […]
Read More →As much as I like to throw mud at the central bank of Thailand. While having a discussion with a friend yesterday regarding investments, he brought up a point stating that the Central Bank of Thailand’s foundation is one of the key reasons that Thailand has done so well and through its inflation-targeting has been able to […]
Read More →The BOT held its last MPC Meeting on the 28th November 2012 and unanimously voted to maintain the 2.75% policy rate for the following reasons: 1) The world economy is more stable with recovery signs reflected in the US and Chinese economic numbers for October that have beaten market estimates, especially in the US property […]
Read More →Well then, first on the 14th of this month the BOT Governor comes out publicly saying “Thailand doesn’t need an interest- rate cut as credit growth is accelerating and domestic demand is countering a slowdown in exports, central bank Governor Prasarn Trairatvorakul said.” Source: Bloomberg And then on the 18th of this month, the BOT […]
Read More →Last week the Bank of Thailand (BOT) announced that it would keep its benchmark rate unchanged at 3.00%. This follows 25-bp cuts each in November and January previously. Now I’ve mentioned this before, the BOT will not increase interest rates UNTIL they see the economic figures for Thailand improving and this will not be the […]
Read More →So this is why banks have continued to remain strong in the market… Local papers reported that the BOT will offer THB 210 bn to Thai banks at a rate of 0.01% that will be meant for clients affected by the 4Q11 flooding. Local banks estimated that their clients require THB 366 bn in loans […]
Read More →Earlier today the local media report that the Ministry of Finance, Bank of Thailand and the Thai Bankers Association agreed to increased the Financial Institutions Development Fund fees from 0.4% to 0.47% for deposits (0.46% to fund FIDF debt and 0.01% to the Deposit Protection Agency). These new rates are expected to be implemented by […]
Read More →Over at my friend’s Ake’s website, www.chartingthailandeconomy.com, he put up a little graph showing a big downward revision for 2011 growth. Well look, the post-flood recovery progress begun in December 2011 with factories and industrial estates restarting and the government’s plan for rehabilitation (including the THB 350 bn flood reconstruction and water management plan) won’t […]
Read More →We love to joke that the Bank of Thailand is always reactionary and are never adept at forecasting. A few days ago they cut interest rates from 3.25% to 3.00%, their reasons for doing so are: 1. Fear of a low economic expansion and a slow recovery from the flood crisis last year. 2. A […]
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