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☆ Thailand's central bank will act independently and not cave to 'political' pressure, governor says
▼ + stars: | 2024-04-29 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Political pressure won't force the hand of Thailand's central bank in making its interest rate decisions independently, the country's central bank chief told CNBC on Monday. "The proof is in the pudding," Bank of Thailand Governor Sethaput Suthiwartnarueput told CNBC's "Street Signs Asia." Despite the "clamoring" for rate cuts, the BOT didn't act on it "if we weren't operating independently," he added. The BOT kept the key interest rate steady at 2.50% in its latest policy meeting in April. But the central bank has been facing intense pressure from the government to lower rates, including from the country's Prime Minister Srettha Thavisin, Reuters reported.

Persons: Sethaput Suthiwartnarueput, CNBC's, Srettha Thavisin Organizations: CNBC, Bank of Thailand, country's, Reuters

☆ Bank of Thailand: Slow economic recovery doesn't have much to do with things sensitive to rates
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Thailand: Slow economic recovery doesn't have much to do with things sensitive to ratesSethaput Suthiwartnarueput, governor of the Bank of Thailand, discusses the "balancing act" that needs to be struck.

Persons: Suthiwartnarueput Organizations: Email Bank of, Bank of Locations: Email Bank of Thailand, Bank of Thailand

TOKYO (AP) — Asian shares retreated Monday as investors awaited updates on consumer spending and inflation in the U.S. and other nations. While analysts expect them to stand pat on policy, attention remains relatively high, given concerns about inflation. Wall Street ended last week mixed with a half-day trading session that capped a fourth straight winning week. The holiday shopping season kicked off with Black Friday amid concerns that spending may slow under pressure from dwindling savings, rising credit card debt and inflation. The major stock indexes’ latest weekly gains reflect a turnaround in the market’s sentiment in November following a three-month slide.

Persons: ” Yeap Jun Rong, Hong, Hang Seng, Brent, Yuri Kageyama Organizations: TOKYO, Nikkei, IG, Shanghai, Reserve Bank of New, Bank of Korea, Bank of, Black, Dow Jones, Nasdaq, Nvidia, Google, CF Industries, Federal Reserve, Treasury, Benchmark, New York Mercantile Exchange, U.S Locations: U.S, China, Reserve Bank of New Zealand, Bank of Thailand

☆ Thai economy in 'crisis' and needs major stimulus - PM
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

Speaking at a forum, Srettha said the economy was not in good shape with fewer foreign arrivals than targeted, and he would be prioritising attracting foreign investment and addressing household debt. "There needs to be big economic stimulus," said Srettha, who is also finance minister, adding a plan to tackle debt would be announced on Dec. 12. Thailand recorded 23.85 million foreign tourists arriving from Jan 1 to Nov. 19, spending 1 trillion baht. It is targeting 28 million arrivals versus a pre-pandemic record of nearly 40 million foreign tourist arrivals in 2019 who spent 1.91 trillion baht. In recent weeks, government officials have described the economy to be in a crisis, necessitating its signature plan.

Persons: Srettha Thavisin, Srettha, Sethaput Suthiwartnarueput, Orathai Sriring, Kitiphong, Satawasin, Chayut Setboonsarng, Martin Petty Organizations: Thai, Thais, Bank of Thailand, Thomson Locations: BANGKOK, Thailand, Southeast Asia's

☆ Thai policy rate is right for now, Mideast war is a concern - c.bank chief
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The central bank's growth forecast of 4.4% for 2024 will be revised if there is any change in the government's stimulus plan, he added. Sethaput said the Bank of Thailand is concerned about the fallout from the conflict in the Middle East. "A new factor that I'm quite wary about is Middle East problems as evaluating the impact of this risk is very difficult," he said, but added that the current policy rate is appropriate. The rate has been raised by a total of 200 basis points since August last year to rein in elevated inflation. ($1 = 36.11 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sethaput Suthiwartnarueput, Sethaput, Orathai Sriring, Kitiphong, Shri Navaratnam Organizations: Bank of, Bank, Thomson Locations: BANGKOK, Bank of Thailand, outflows

☆ Asia stocks mixed as investors grapple with higher rates
▼ + stars: | 2023-09-27 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

REUTERS/Issei Kato/File photo Acquire Licensing RightsHONG KONG, Sept 27 (Reuters) - Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates. The Japanese yen remained weak versus the greenback at 149.06 per dollar. Higher U.S. Treasury yields and recent dovish comments from Bank of Japan (BoJ) officials have weighed on USD/JPY," CBA analysts said in a note. In treasuries, benchmark 10-year Treasury yields have climbed to 16-year highs in the wake of the Federal Reserve's hawkish longer-term rate outlook last week. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 5.0603% compared with a U.S. close of 5.077%.

Persons: Issei Kato, Dow, Shunichi Suzuki, Brent, Jamie Freed Organizations: U.S, REUTERS, Treasury, Bank, Japan's Nikkei, Federal Reserve, Dow Jones, Nasdaq, Finance, Higher U.S, Bank of Japan, CBA, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Australia, Thailand, Pacific

[1/2] Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo Acquire Licensing RightsSept 27 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But another day of curve steepening, and 10-year nominal and real yields rising to new multi-year highs crushed stocks. U.S. bond market volatility - a key driver of global market stability and liquidity - had its biggest rise since early July. Investors in Asia will also note the significance of U.S. crude oil's rise on Tuesday after a few days of consolidation, not for the 1% rise in itself, but because it lifts the year-on-year price rise to almost 20%.

Persons: Jorge Silva, Jamie McGeever, Dow Jones, Josie Kao Organizations: Bank of, REUTERS, Bank, Dow, Nasdaq, Investors, Reuters, Thomson Locations: Bank of Thailand, Bangkok, Thailand, Treasuries, Asia, Thailand's, Australia, China

Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. Despite inflation in Thailand edging up slightly to 0.88% in August, it remained below the central bank's 1-3% target range for a fourth consecutive month, suggesting little need for the Bank of Thailand (BOT) to continue hiking. A strong majority of economists in a Sept. 18-22 poll, 21 of 27, expected the BOT to keep its benchmark one-day repurchase rate (THCBIR=ECI) at 2.25% on Wednesday. None expected the central bank to raise interest rates at the following meeting in November. Median forecasts showed interest rates remaining at 2.25% through next year.

Persons: Jorge Silva, Sethaput Suthiwartnarueput, Lavanya Venkateswaran, Aris, Anant Chandak, Susobhan Sarkar, Devayani Sathyan, Jonathan Cable, Kim Coghill Organizations: Bank of, REUTERS, Bank of Thailand, Aris Dacanay, HSBC, Thomson Locations: Bank of Thailand, Bangkok, Thailand, BENGALURU, China, ASEAN

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This may hinge largely on whether the U.S. bond market regains its footing. Here are key developments that could provide more direction to markets on Monday:- Singapore inflation (September)- Vietnam inflation, trade, industrial production (September)- Vietnam GDP (Q3)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Issei Kato, Jamie McGeever, Goldman Sachs, Lisa Shumaker Organizations: REUTERS, Fed, Bank of England, Swiss National Bank and Bank of Japan, Treasury, Thailand's, Thomson, Reuters Locations: Tokyo, Japan, Asia, U.S, Vietnam, Singapore

☆ Take Five: An inflationary dilemma
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The week ahead brings more evidence of how much progress is left for developed-economy policymakers, while in the emerging world, India is set to enter the bond-market big time and a raft of central banks wrestle with a dilemma. The personal consumption expenditures (PCE) price index rose 3.3% in the 12 months through July. Line chart with data from LSEG Datastream show the U.S.'s inflation on personal consumption expenditures (PCE), core PCE inflation and the federal funds target rate from 2019 to 2023. Reuters Graphics5\ASIA'S CURRENCY CONUNDRUMAsian central banks have a dilemma: how to handle weakening economic growth and peaking inflation, while arresting the slide in currencies to maintain stability in their financial systems. But much may rest on decisions of other central banks further afield, namely the Federal Reserve.

Persons: Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Perry Warjiyo, Toby Chopra Organizations: Federal, Fed, European Central Bank, ECB, Reuters, CLUB India, JPMorgan, Russell, Bank of, Bank, Thailand, Reserve, Thomson Locations: India, Vidya Ranganathan, Singapore, New York, London, Washington, U.S, Saudi Arabia, Russia, Bank of Indonesia, Philippine

☆ Bank of Thailand chairman discusses country's inflation and interest rate outlook
▼ + stars: | 2023-09-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Thailand chairman discusses country's inflation and interest rate outlookThailand is in the process of interest rate normalization, says Porametee Vimolsiri, Bank of Thailand chairman.

Persons: Porametee Vimolsiri Organizations: Email Bank, Thailand, Bank of Locations: Thailand, Bank of Thailand

Aug 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A double dose of the U.S. Treasuries and dollar 'pain trade' looks set to put Asian markets on the defensive on Wednesday, with investors also bracing for South Korean inflation figures and an expected interest rate hike from the Bank of Thailand. Several indicators, from big Wall Street banks' client surveys to futures market positioning data, show investors are not positioned for that. The yen has fallen nearly 4% since the BOJ tweaked its seven-year 'yield curve control' policy on Friday. Annual inflation in South Korea, meanwhile, is expected to have slowed to 2.40% in July from 2.70% the month before.

Persons: Jamie McGeever, Tuesday's, Deepa Babington Organizations: Bank of Thailand, Bank of, Apple, South, South Korea CPI, PMI, Thomson, Reuters Locations: Asia, Pacific, U.S, South Korea, Thailand, Singapore

☆ Tourism, not politics, is crucial for the Thai baht: BNP Paribas
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTourism, not politics, is crucial for the Thai baht: BNP ParibasChidu Narayanan of BNP Paribas says the Bank of Thailand could start hiking interest rates given the rebound in Thailand's tourism sector.

Persons: Chidu Narayanan Organizations: Tourism, BNP, Bank of Locations: Bank of Thailand

REUTERS/Jorge SilvaBANGKOK/NEW DELHI, July 17 (Reuters) - Indian tourists are streaming into Southeast Asia, cementing the world most populous country's position as a key growth market for a travel and tourism sector that is feeling the pinch of China's slower-than-expected re-opening. "Southeast Asia is obviously very well positioned for a lot of the growth that is inevitably going to come from India," aviation analyst Brendan Sobie told an industry conference last month. Tanes Petsuwan, deputy governor of the Tourism Authority of Thailand said 1.6 million Indians were expected to visit the kingdom this year. Indians are helping to sustain a post-pandemic rebound for hospitality chains, including Minor Hotels, which has 45 properties in Southeast Asia with more than 6,000 rooms. Thailand's central bank expects 29 million visitors this year and 35.5 million in 2024.

Persons: Jorge Silva, Brendan Sobie, Tanes Petsuwan, Chai Eamsiri, Chai, Vinay Malhotra, IndiGo's, Sobie, Dillip, Pratyush Tripathy, That's, Somsong Sachaphimukh, Somsong, Pasit, Stefanno Sulaiman, Neil Jerome Morales, Robert Birsel Organizations: REUTERS, Jorge Silva BANGKOK, Thai Airways, Organisation for Economic Cooperation, Reuters, Asian Development Bank, Tourism Authority, IndiGo, Airbus, Minor, Bank of, Tourism Council of, Thomson Locations: India, Thailand, Patong, Phuket, DELHI, Asia, China, Thai, Singapore, Indonesia, Southeast Asia, Jakarta, Bangkok, Kolkata, Pattaya, Europe, United States, Thailand's, Bank of Thailand, Tourism Council of Thailand, BANGKOK, JAKARTA, MANILA

☆ We shouldn't be complacent about impact of minimum wage hikes on inflation: Bank of Thailand chief
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe shouldn't be complacent about impact of minimum wage hikes on inflation: Bank of Thailand chiefSethaput Suthiwartnarueput, governor of the Bank of Thailand, discusses potential wage hikes in the country and says "we shouldn't be lulled into a sense of complacency regarding the possible impact of minimum wage increases on the headline inflation number."

Persons: Sethaput Suthiwartnarueput Organizations: Bank of Thailand, Bank of Locations: Bank of Thailand

☆ Bank of Thailand Raises Rate to Tame Inflation
▼ + stars: | 2023-05-31 | by ( Kosaku Narioka | ) www.wsj.com time to read: 1 min

Thailand’s central bank increased its policy rate as it continued its efforts to tame inflation. The Bank of Thailand said Wednesday that its policy committee voted unanimously to raise its one-day repurchase rate by 25 basis points to 2.00%, effective immediately. All eight economists polled by The Wall Street Journal had expected the central...

Organizations: Bank, Thailand, Wall Street

Investors are awaiting more tangible outcomes of Sunday's general election, after preliminary results showed the country's pro-democracy parties secured a strong majority. A calculation by Reuters based on data from the country' Election Commission suggests the anti-military Move Forward party, led by Thai businessman Pita Limjaroenrat, would win the most seats, followed by the Pheu Thai party. If confirmed, this would represent a resounding rejection of pro-military parties led by former prime minister Prayut Chan-o-cha, ending nine years of pro-military rule. The Pheu Thai party has put forward Paetongtarn Shinawatra — the daughter of former Thai prime minister Thaksin Shinawatra — as its candidate for prime minister, while Reuters reported that Limjaroenrat also has "set his sights set on being prime minister." First quarter GDPSeparately, Thailand's gross domestic product for the first quarter grew 2.7%% year-on-year, beating expectations of a 2.3% rise.

Sararat Rangsiwuthaporn was initially arrested last week for the alleged murder of Siriporn Kanwong, Deputy National Police Commissioner Gen. Surachate Hakparn told CNN. Sararat Rangsiwuthaporn appeared in Bangkok's criminal court after her arrest Tuesday, where she was taken into police custody. Daily News/ReutersPolice are also investigating Sararat’s partner Witoon Rangsiwuthaporn, a senior police official who held the rank of Lt. Earlier this week, Witoon was fired from his job as a local deputy police chief. He is also facing charges of fraud and embezzlement related to the alleged murders, Surachate confirmed.

☆ Thai c.bank chief sees economy growing at 3.6% this year
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, April 24 (Reuters) - Thailand's economy is still seen growing at 3.6% this year, the central bank chief said on Monday, in spite of some turbulence in the first half of the year. Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput told reporters exports are seen down 7.1% year-on-year in the first half of 2023, before rising 4.2% in the second half. Headline inflation, which cooled to 2.83% in March, is expected at 3.3% in first half and 2.5% in the second half. The BOT last month raised its benchmark rate by a quarter point to 1.75% to curb inflationary pressures. The BOT has raised its key rate by a total of 125 basis points since August, less aggressive than many of its peers.

March 29 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. An interest rate decision in Thailand and Australian inflation top a light Asian calendar on Wednesday, with broader risk appetite likely to be tempered by a further rebound in U.S. bond yields. But this relief is running up what looks like a renewed spike higher in bond yields and borrowing costs, which is dampening risk appetite. One curiosity is the dollar, weakening again on Tuesday despite the rise in U.S. bond yields. Indeed it mostly struggled to catch a safe-haven bid when the banking stresses were most acute and is now struggling even when U.S. yields are rising.

☆ Thai banks' bad loans slow to 2.73% of lending at December-end -c.bank
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Feb 20 (Reuters) - Thai banks' non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the central bank said on Monday. Bad loans are likely to increase but not sharply, while existing debt measures are sufficient to support vulnerable groups, assistant central bank governor Suwannee Jatsadasak told a news conference. The BOT will continue to monitor the debt servicing of households, which remained fragile, and the recovery of some business groups, the BOT said. Loans grew 2.1% in 2022, slowing from a 6.5% rise in the previous year, due in part to debt repayments by large businesses, the BOT said. Suwannee said lending was likely to grow in line with the economy but gave no specific forecast.

Thailand's economy is expected to continue growing while headline inflation should decline and return to a target range of 1% to 3% late in the year, the central bank said. Any further rate hikes would be gradual and measured, it said, but added it stood ready to adjust them as needed. "The committee deems that a continuing gradual policy normalisation is an appropriate course for monetary policy consistent with the growth and inflation outlook," the BOT said in a statement. It added it expected "increased risks from demand-side inflationary pressures due to the economic recovery". China's reopening is expected to further boost Thailand's tourism, with the government predicting at least five million Chinese visitors this year, about half of the 2019 figure.

☆ Thai central bank raises key rate 25 bps as expected
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The Bank of Thailand's (BOT) monetary policy committee voted unanimously to raise the one-day repurchase rate (THCBIR=ECI) to 1.50% at its first review of the year. Of 23 economists polled by Reuters, 21 had expected a quarter point hike while the remaining two forecast no change. Thailand's economy is expected to continue growing while headline inflation should decline, the central bank said in a statement. With Wednesday's move, the central bank has raised the benchmark rate by a total of 100 basis points (bps) since August. China's reopening is expected to further boost Thailand's tourism, with the government predicting at least five million Chinese visitors this year, about half of the 2019 figure.

☆ We expect Thailand's central bank to hike interest rates by 25 basis points, JPMorgan says
▼ + stars: | 2023-01-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect Thailand's central bank to hike interest rates by 25 basis points, JPMorgan saysRajeev Batra of the investment bank says it expects the Bank of Thailand to hike rates by 25 basis points today and again sometime this quarter.

☆ Thai c.bank to raise rates 25 bps, tourism to bolster growth: Reuters poll
▼ + stars: | 2023-01-23 | by ( Devayani Sathyan | ) www.reuters.com time to read: +3 min

Unlike its neighbours in Malaysia and Indonesia, The Bank of Thailand (BOT) is expected to keep tightening policy for awhile longer. Twenty-one of 23 economists polled by Reuters expected the BOT to raise its benchmark one-day repurchase rate (THCBIR=ECI) by 25 basis points (bps) to 1.50% on Jan. 25. This gives the BOT room to continue hiking rates, to continue anchoring inflation expectations." The poll median showed the central bank would then raise borrowing costs by another 25 bps, taking it to 2.00% by end-September. "The combination of improving growth prospects and still-elevated inflation gives the central bank room to continue reducing policy accommodation."

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