The decision was unanimous and was widely expected by market analysts. In the press release, the Committee struck a dovish tone and stated that it “would ensure sufficient liquidity, as well as the well-functioning and stability of the financial markets”. Press
The BOT also raised its gross domestic product (GDP) forecast for 2020, expecting the economy to shrink 7.8% this year compared to a previous forecast for a record 8.1% contraction. Consumer prices rose 0.29% over the previous month in August, which was below the 0.66% rise seen in July.
Central Bank rate maintained at record low in September. As such, further rate cuts are possible going forward.
BANGKOK, July 17 (Reuters) - Thailand’s central bank said monetary policy should remain accommodative for some time to support an economy hit by the coronavirus pandemic and help inflation return to target.
LinkedIn The MPC has cut the policy rate three times this year to a record low of 0.50%.
Download a sample report now. Online Store The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to keep the one-day repurchase rate steady at an all-time low of 0.50% for a third straight meeting, as was widely expected. Thailand's central bank said monetary policy should remain accommodative for some time to support economic growth and help inflation return to target.
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The Central Bank stated that it expects the Thai economy to expand below potential At its 23 September meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at a record low of 0.50%, having cut the rate by 75 basis points since the start of the year. On an annual basis, manufacturing production dived 14.7% in July, although this was notably better than June’s 17.8% fall. All quotes delayed a minimum of 15 minutes. The Bank decided that a continuation of its accommodative monetary policy was necessary to support the gradual recovery of the economy, following an easing of containment measures in the country and improving external dynamics. BANGKOK, Sept 23 (Reuters) - Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday and upgraded its GDP outlook slightly as Southeast Asia’s second-largest economy showed some signs of recovery from the fallout of the coronavirus pandemic.
| Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Central Bank rate maintained at record low in September, Thailand: Consumer prices continue to fall in August, Thailand: Manufacturing production eases in July, Thailand: Merchandise exports contract at softer rate in July, Thailand: Economy records sharpest contraction since 1998 in Q2. LinkedIn The Bank of Thailand (BOT)’s Monetary Policy Committee (MPC) voted unanimously to maintain the policy rate at 0.50 per cent on Wednesday.
Twitter Financial Institutions Policy Committee; Thailand’s Financial Institutions BOT Roles and Responsibilities; Financial Institutions Supervision in Practice; Financial Institutions Policy BOT … Moreover, the pandemic has caused liquidity concerns for companies and the Bank’s rate cut was aimed at reducing … My Cart Furthermore, it provided revised estimates for consumer prices, with a 0.9% decrease forecast in 2020 before a 1.0% increase in 2021 (June update: -1.7% in 2020 and +0.9% in 2021). See here for a complete list of exchanges and delays. Merchandise exports fell 11.4% over the same month last year in July, softening from June’s 23.2% dive. The Monetary Policy Committee (MPC) expects headline inflation - projected at minus 1.7% this year - to get back to the 1%-3% target range in the second quarter of 2021, the central bank said in an open letter to the finance minister dated July 8. On 5 February, the Monetary Policy Committee of the Bank of Thailand (BoT) voted unanimously to cut the policy rate by 25 basis points, bringing the rate down to 1.00% from 1.25%. You may be trying to access this site from a secured browser on the server. Online Store GDP declined at a more pronounced pace of 12.2% year-on-year in the second quarter, below the 2.0% contraction recorded in the first quarter. Merchandise exports fell 11.4% over the same month last year in July, softening from June’s 23.2% dive. The decision was influenced by a more severe economic impact from the coronavirus outbreak than previously estimated. At its 23 September meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at a record low of 0.50%, having cut the rate by 75 basis points since the start of the year. Monetary Policy Strategy Division, Monetary Policy Department Tel. Thailand Monetary Policy September 2020 At its 23 September meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at a record low of 0.50%, having cut the rate by 75 basis points since the start of the year.
As such, the Bank maintained its wait-and-see approach, with the continued easing of deflationary pressures through May–July giving it further space to do so.
It will next review policy on Aug. 5. Reporting by Orathai Sriring Editing by Ed Davies. Consumer prices rose 0.29% over the previous month in August, which was below the 0.66% rise seen in July.
Client Log In, Facebook LinkedIn 0 2283 6186 or 0 2356 7872 Home > News > The Bank now sees GDP shrinking 7.8% year-on-year in 2020, up marginally from the 8.1% contraction estimated in June’s update. Google+, © Copyright: 2020. Fiscal policy is back in focus in Thailand as the central bank runs out of conventional monetary policy space to spur the economy.
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©2015 Bank of Thailand. The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to keep the one-day repurchase rate steady at a record low of 0.50% for a third straight meeting.
The next monetary policy meeting is scheduled for 25 March. “The accommodative monetary policy should be maintained for some period of time to bolster the economic recovery and domestic purchasing power after the COVID-19 spread is under control,” it said. On 20 March, the Monetary Policy Committee of the Bank of Thailand (BoT) held an emergency meeting and opted to cut the policy rate by 25 basis points to 0.75% from 1.00%.
However, a slow recovery in tourism and the potential for a second wave of the virus caused the Bank to downgrade its 2021 forecast to 3.6% growth (June update: +5.0% yoy). On an annual basis, manufacturing production dived 14.7% in July, although this was notably better than June’s 17.8% fall. All rights reserved. Bank of Thailand lowers policy rate in emergency meeting. You may be trying to access this site from a secured browser on the server. Twitter Download a sample report now. Monetary Policy Strategy Division, Monetary Policy Department Tel.
| Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Bank of Thailand lowers policy rate in emergency meeting, Thailand: Manufacturing production eases in August, Thailand: Central Bank rate maintained at record low in September, Thailand: Consumer prices continue to fall in August, Thailand: Manufacturing production eases in July, Thailand: Merchandise exports contract at softer rate in July. The Committee commented that “the extra accommodative monetary policy since the beginning of the year as well as the fiscal, financial, and credit measures additionally announced helped alleviate adverse impacts, and would support the economic recovery after the pandemic subsided”. Looking for forecasts related to Monetary Policy in Thailand? The decision was influenced by a more severe economic impact from the coronavirus outbreak than previously estimated. Monetary Policy Committee (MPC) MPC Knowledge; Economic Conditions; Research and Conference Papers; Regional Economy; Financial Institutions. All rights reserved.
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Forecasting Team, Economic and Policy Department, Monetary Policy Strategy Division, Monetary Policy Department, ©2015 Bank of Thailand.
Moreover, the pandemic has caused liquidity concerns for companies and the Bank’s rate ©2015 Bank of Thailand. The decision was unanimous and was widely expected by market analysts.
Financial Institutions Supervision in Practice, Supervision of Other Financial Corporations, Puey Ungphakorn Institute For Economic Research, Yearly Report on Economic and Monetary Conditions, Monetary Policy Committee’s Decision 6/2020, The policy interest rate (1-day bilateral repurchase rate), Open letters explaining the movements of headline inflation deviating from the inflation target, Edited Minutes of the Monetary Policy Committee Meeting. My Cart
Throughout the period since 1970, Thailand has experienced wide fluctuations in monetary growth in reaction to external and internal stimuli of both a monetary and non-monetary nature. The BoT also provided updated forecasts in its September report, estimating a smaller contraction in 2020 than previously expected. Google+, © Copyright: 2020.