State budget disbursements for FY2016 hit Bt1.05 trillion, ahead of last year’s levels — Government budget disbursements for fiscal 2016 – already reaching Bt1.05 trillion as of last Friday – are running ahead of last year because state agencies have made timely preparations for their procurement and hiring. (The Nation, 3/2/16)
Japanese investors want Thailand to join Trans-Pacific Partnership – Japanese investors have urged Thailand to join the Trans-Pacific Partnership (TPP) to attract Japanese investment flows, which they say are needed for the Kingdom’s infrastructure projects. (The Nation, 3/2/16)
Thailand plans 2017 budget deficit of 390 billion baht — Thailand’s government plans a budget deficit of 390 billion baht (S$15.57 billion) for the 2017 fiscal year starting on Oct 1, the same as the current year, the transport minister said on Tuesday. Government spending was projected at 2.73 trillion baht, about the same as this year’s 2.72 trillion baht, Arkhom Termpittayapaisith told Reuters. (The Business Times, 3/2/16)
Thai January consumer prices fall for 13th straight month — The index, published by the Commerce Ministry on Monday, fell 0.53 per cent in January from a year earlier, compared with a Reuters poll forecast for a 0.49 per cent dip. The core inflation rate, which strips out raw food and energy prices, was at 0.59 per cent in January, in line with the 0.60 per cent seen in the poll. (The Business Times, 1/2/2016)
BOJ stuns markets with surprise move to negative interest rates — The Bank of Japan unexpectedly cut a benchmark interest rate below zero on Friday, stunning investors with another bold move to stimulate the economy as volatile markets and slowing global growth threaten its efforts to overcome deflation. (Reuters, 1/2/16)
Euro-Area Inflation Accelerates in Breather for ECB’s Draghi — Euro-area inflation accelerated in January, providing a reprieve for European Central Bank officials that may prove temporary as commodity prices continue their descent and emerging markets slow. (Bloomberg, 29/1/16)
BOJ chief prepared to cut rates further if needed — Bank of Japan (BOJ) governor Haruhiko Kuroda yesterday said there is more room to expand stimulus further to reach its 2 per cent inflation target, signalling his readiness to cut interest rates deeper into negative territory (Straits Times, 4/2/2016)
China Jan services index rises to six-month high: Caixin — Activity in China’s services sector expanded at its fastest pace in six months in January, a private survey showed on Wednesday, helping to offset weakness in the vast manufacturing sector that has weighed on the world’s second-largest economy. The Caixin/Markit Purchasing Managers’ Index rose to 52.4 in January from a 17-month low reading of 50.2 in December. The monthly increase in the index was the largest since August 2014. (Reuters, 3/2/2016)
Euro zone businesses had disappointing start to 2016 – PMI — Euro zone businesses started 2016 in slightly better shape than first thought but January’s pace of growth matched only the weakest seen in the past year, adding to pressure on the ECB to ease policy again, a survey found. Markit’s final Composite Purchasing Managers’ Index, seen as a good guide to growth, came in at 53.6, just pipping an earlier flash estimate of 53.5 but considerably below December’s 54.3. (Reuters, 3/2/2016)
Fed’s Kaplan: Be ‘very patient’ about raising rates — Robert Kaplan, the new chief of the Dallas Federal Reserve Bank, signaled on Thursday that he views further interest-rate hikes as far from imminent, saying he wants to be “very patient” in assessing the outlook for the U.S. economy. (CNBC, 4/2/16)
