The baht is likely to move in a narrow range in response to market expectations that the Bank of Thailand’s Monetary Policy Committee (MPC) will hold the policy rate steady at its meeting today. “A [rate] pause appears to be the general consensus, and hence market reaction to it may be minimal,” Parson Singha, chief [...]
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MINT ‘safe’ from floods
Niphit Ariyawong, adviser to the department, said everything would be done to protect the mint. He said the authority had erected a strong flood-prevention barrier more than a metre high around the Bt1-billion mint. “We’re confident of protecting the mint, and we can continue to supply coins to the economy,” he said. The Treasury Department [...]
Cut policy rate, aid disaster recovery: Kittiratt
Deputy Prime Minister Kittiratt Na-Ranong yesterday urged the Bank of Thailand to slash interest rates to help people and firms devastated by flooding to recover, as the government had inflation under control. “The central bank should consider reducing its policy rate at the upcoming meeting to help all industries and boost private sector growth,” he [...]
Kittiratt: Rice pledging scheme will be under-budget
Deputy Prime Minister for economic affairs Kittiratt Na-Ranong is confident that the government’s rice scheme will boost local rice prices and that the cost of the rice price pledging plan will be lower than expected, but a poll of economists concludes that corruption is inevitable. He predicted on Wednesday that the government’s rice mortgage scheme [...]
BoT warns of populist stimulus
The Bank of Thailand has cautioned against government policy to promote a consumption-led stimulus as it could fuel inflation while failing to lift the country’s economic potential. Prasarn Trairatvorakul, the central bank governor, said the economy was not in need of economic stimulus next year and trends did not warrant it. Intra-regional trade and emerging [...]
Government warned not to be left behind in starting free-trade talks with EU
Thailand may lose opportunities to promote trade and investment with the European Union if its falls behind Asean countries in bilateral free-trade talks expected to reach agreement next year. At a meeting with Commerce Minister Kittiratt Na-Ranong yesterday, EU Ambassador David Lipman said the union’s free-trade talks with Singapore and Malaysia were progressing well. It [...]
Government plans radical tax cut overhaul
First-home scheme altered to help poor The government plans a review of the tax system, including possible cuts in personal tax deductions and tax privileges for corporate investors. Finance Minister Thirachai Phuvanatnaranubala yesterday said tax reform is critical for helping the economy to remain competitive. Reform would cover corporate,individual and consumption taxes. The Yingluck Shinawatra [...]
Bangkok Bank challenges BOT move to adjust inflation target
Bangkok Bank, the country’s largest commercial bank by asset size, has taken issue with the central bank and the Finance Ministry over the move. Bank of Thailand Governor Prasarn Trairatvorakul said the new inflation target would be ready for submission to the Finance Ministry in early October. He declined to reveal further details, but insisted [...]
Jakarta to buy elsewhere
Indonesia will seek to buy rice from other countries if Thailand does not honour an earlier agreement to sell the grain, Trade Minister Mari Pangestu said yesterday. The Indonesian ambassador to Thailand and an official from state grain procurement agency Bulog were to discuss the reported cancellation of a proposed government sale of rice to [...]
Fetco submits 7 proposals to Government
In a statement, it said that the global economic condition is in stark contrast to the first half when political parties unveiled their policies for the July 3 election. Among the proposals, it urged the government to set up a facility to shore up the market which plunges over 9 per cent today. As exports [...]
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