Economy and commerce
Thai central bank to test retail digital currency late this year
Thailand’s central bank said on Friday (Aug 5) it expected to test its retail digital currency from late this year to the middle of 2023, as an alternative payment option.During the testing, the retail central bank digital currency (CBDC) will be used in conducting cash-like ...
Thai business group sticks by GDP outlook despite inflation risk
Thailand’s economy is still expected to grow 2.75 per cent to 3.5 per cent this year, helped by increased exports, more tourists, and government support, but faces rising inflationary pressures, a leading joint business group said on Wednesday (Aug 3).Exports are expected to increase 6 ...
Banks expected to delay rate hike
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) believes the banking sector will delay raising the interest rate in line with the Bank of Thailand’s anticipated gradual policy rate hike.Under the policy rate hike trend in the second half of this year, banks ...
Bangkok Post Reporter
Thailand's economy to improve further on consumption, tourism
Thailand’s economy improved in June and the momentum is expected to continue into the second half of 2022 thanks to increased tourism and domestic consumption as pandemic curbs eased.The Bank of Thailand (BoT)’s Senior Director Chayawadee Chai-Anant said the tourism sector will play an important ...
Global issues and inflation put a damper on Thai economic recovery
The Thai economy is entering a “parallel universe” marked by deglobalisation, geopolitical conflict, high inflation, and rising interest rates, KKP Research said on Wednesday.KKP Research chief economist Pipat Luengnaruemitchai said these factors are a challenge to the global and Thai economies both in the short ...
The Nation Reporter
BoT can't afford to hold interest rates
Like all countries in the world, the Bank of Thailand (and Monetary Policy Committee, or MPC) believes they can run monetary policy independently based on local economic conditions.That belief is hard to fathom in today’s liquid international capital market where money can move from one ...
Bangkok Post Reporter
Thailand calls for businesses’ cooperation to stabilise product prices
The Thai Commerce Ministry has called for continued cooperation from manufacturers to maintain product prices as long as possible in order to curb the negative impact on consumers.This move came after manufacturers proposed to increase the prices of their products to cope with higher production ...
Thai economic recovery will be visible from Q3 onwards: UTCC
Thailand’s economic recovery from the Covid-19 fallout should become visible in third quarter of this year thanks to the influx of tourists sparked by the lifting of entry restrictions.“We estimate the gross domestic product [GDP] expansion for the year to be in the scope of ...
The Nation Reporter
Bid to attract EEC investment intensifies
The government is forging cooperation with more than 10 embassies to boost foreign investments in the Eastern Economic Corridor (EEC), with a focus on high-tech and eco-friendly businesses.Ambassadors from countries such as Japan, Germany, France and the Netherlands as well as executives from foreign chambers ...
Lamonphet Apisitniran
Ministry upbeat on baht rebound
The Finance Ministry expects the baht’s value to rebound in the second half this year, in line with the anticipated narrowing of the current account deficit, says a ministry source who requested anonymity.According to Reuters, Bank of Thailand officials said yesterday the bank will let ...
Wichit Chantanusornsiri