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 [...]
Tag Archives | Thailand Inflation
Stagflation looms next year: economist
Thailand, like other Asian countries, is likely to face stagflation next year, with lower economic growth against high inflation, in light of “debt monetisation” of advanced economies and growing demand in China, according to an economist. Kobsidthi Silpachai, head of market and economic research at Kasikornbank, said Thailand could witness slower growth in gross domestic [...]
Gold poised to break US$2,000 barrier
YLG Bullion International, Thailand’s largest wholesale gold trader, has revised up its gold price projection to between US$2,000 and $2,200 an ounce this year due to the slower-than-expected global economic recovery, especially with EU economies looking set to take another two years. The price will also show a significant increase at the end of each [...]
NESDB: Wage lags behind inflation
he daily minimum wage has advanced more slowly over the past decade than the average inflation rate, and 7.8% of Thais remain under the poverty line, says the National Economic and Social Development Board (NESDB). Statistics show the minium wage rose by 2.3% annually during that period, with inflation outpacing that at 2.8%. The wage [...]
Kittiratt pushes for policy rate cut
Deputy Prime Minister Kittiratt Na-Ranong yesterday put more pressure on the Bank of Thailand, supporting the finance minister’s view that the policy interest rate should be cut by between a quarter and one percentage point.
Plea for business focus
New Finance Minister Thirachai Phuvanat-naranubala is questioning the Bank of Thailand’s hawkish focus on inflation by lifting the policy interest rate again, saying it would be a key obstacle for businesses.
No sign of bubbles in banking sector
The governor of the Bank of Thailand has expressed confidence that there were no signs of bubbles in the banking sector, which witnessed average loan growth of more than 10 per cent in the first half of this year.
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Industry opposes B300 daily wage
The incoming government should review its policy to raise the daily minimum wage to 300 baht because manufacturers would not be able to carry the added labour cost, the chairman of Khon Kaen Federation of Industries said on Wednesday.
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BOT expects mild impact from wage hike
Bank of Thailand expects a mild impact on inflation if the minimum wage hike is raised to Bt300 as campaigned by the Pheu Thai government, on anticipation that the increase would be gradual.
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Capital inflows reach Bt300 bn
Net foreign capital inflow has exceeded US$10 billion (Bt300 billion) in the first five months of this year, which could add more fuel to inflation, the Bank of Thailand said yesterday.
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