1. The Finance Ministry is hoping a higher inflation target for 2025 will give the central bank more leeway to cut the policy rate.: The Finance Ministry has proposed moving the inflation target for next year to 1.5-3.5%, rising from the existing range of 1-3%, to provide the Bank of Thailand more room to lower the policy rate. According to a ministry source who requested anonymity, this adjustment to the inflation target would allow the central bank to cut the policy interest rate, stimulating inflation within the new framework. Bangkok Post
2. White rice price dips as India lifts ban: The domestic price of Thai white rice has begun to decrease following India’s resumption of non-basmati white rice exports. However, this shift has yet to affect this year’s rice export volume, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. Mr Chookiat said on Sept 28 the Indian government lifted a ban on the export of non-basmati white rice of more than a year, with a larger crop yield in 2024 bolstering state warehouse reserves for domestic supply. India also cut the export duty on parboiled rice to 10% from 20%. Bangkok Post
3. Insurers prepare for more global disasters: Industry conference warns of rising costs. The insurance industry is facing the consequences of growing geopolitical conflicts as well as natural disasters, prompting insurers to prepare for greater business risks, according to participants at the 23rd conference of the Association of Insurers and Reinsurers of Developing Countries (AIRDC). Bangkok Post
4. Hotel occupancy rate in Chiang Mai down 30%: Hotels in Chiang Mai saw the average occupancy rate decline by 30% over a three-day period of severe floods covering Oct 4-6, which heavily impacted 1,500-2,000 rooms in the province. Bangkok Post
5. Finance Ministry seeking cabinet nod to sell shares: Move would involve over 100 enterprises. The Finance Ministry is preparing to propose to the cabinet in December the sale of both listed and unlisted shares held by the ministry. This will involve over 100 enterprises in which the ministry holds a stake of less than 50%. Bangkok Post
6. Banks to tackle high household debt with new measures: The Thai Bankers’ Association (TBA) is considering additional measures to improve debt restructuring for vulnerable customer segments in an effort to address the country’s household debt crisis. According to TBA chairman Payong Srivanich, the association is reviewing debt restructuring measures to strengthen household debt solutions, building on existing tools. The additional measures will be specifically tailored to vulnerable customers, primarily individuals and small and medium-sized enterprises (SMEs), he said. Bangkok Post
7. BoT board boss pick delay: Selection on hold amid meddling fears. A committee organised to pick a new chairman of the board for the Bank of Thailand has postponed its selection until further notice amid concerns of possible political interference from several people, including former BoT governor Tarisa Watanagase. Bangkok Post
8. Thailand consumer outlook hopeful: But growth constrained by worsening economic environment and political instability, says BMI. We maintain a positive outlook for consumer spending in Thailand throughout 2024, as growth continues in sectors such as retail, hospitality, tourism and gastronomy. Real household spending (calculated at 2010 prices) is projected to grow by 3.6% year-on-year, decelerating from the 11.2% estimated for 2023 as consumer spending stabilises from the volatility witnessed from 2020-23, induced by Covid lockdowns and a subsequent remarkable recovery. In total, we anticipate spending to exceed 9.2 trillion baht (in 2010 terms) in 2024, supported by a favourable macroeconomic environment. Bangkok Post
9. Fliggy, an online travel platform wholly-owned subsidiary of Alibaba released FY24 national day holiday travel report, outbound travel shown robust growth with booking rising over 50% yoy, JPN, TH, HK S.KR & Malaysia are among to 20 outbound destinations while Malaysia, Thailand & S.Kr accounting for more than 50% of booking of overseas island package.
10. SET bullish on Q4 because of Vayupak Fund: Thai stocks could continue to rise in the fourth quarter given gradual investment in the state-run Vayupak Fund and various tax-saving Thai ESG funds that are expected to draw investments towards the year-end, says the Stock Exchange of Thailand (SET). Bangkok Post

Bonus 1

1. High chance MSCI may raise SET weighting, announcement on Nov 6 and effective 26, as mkt cap has risen to Bt18.2trnl, while IVL and MTC may be added, Tabloid.