inflation
- Business News
Thailand urged to cut interest rates amid low inflation concerns
Finance Minister Pichai Chunhavachira has reiterated his call for a reduction in Thailand’s policy interest rate to boost inflation. He urged the Monetary Policy Committee (MPC) to announce another rate cut, citing the current low inflation rate as a driving factor. The Finance Ministry continues to provide economic data and engage in discussions with the Bank of Thailand, although the…
- Business News
Thailand’s 2024 inflation forecast set between 0.2% and 0.8%
The Commerce Ministry has forecasted that Thailand’s headline inflation for 2024 will range from 0.2% to 0.8%, settling at a midpoint of 0.5%. This projection is part of a broader economic outlook that anticipates a range of factors influencing price changes in the coming years. In 2025, headline inflation is expected to be slightly higher, between 0.3% and 1.3%, driven…
- Business News
BoT inflates hopes: Targets snug 1-3% to turbo-charge economy
In a bold move to turbo-charge Thailand’s economic engine, the Bank of Thailand (BoT) pegged its hopes on keeping inflation between a snug 1% and 3%. The aim is to shift the economy into top gear, with deputy governor Piti Disyatat revealing at the Monetary Policy Forum that they’re targeting headline inflation of 1.2% by 2025. That’s a noticeable bump…
- Business News
Thailand to raise inflation target range for 2025 by 0.5%
The Finance Ministry and the Bank of Thailand are preparing to set the inflation target range for 2025, with the ministry proposing a 0.5% increase over the current range. A source from the Finance Ministry, who wished to remain anonymous, revealed that Deputy Prime Minister and Finance Minister Pichai Chunhavajira met with central bank chief Sethaput Suthiwartnarueput yesterday, October 28.…
- Thailand News
Finance ministry urges higher inflation target for policy rate flexibility
The Finance Ministry suggested adjusting the inflation target for next year to a range of 1.5 to 3.5%, up from the current 1 to 3%, to grant the Bank of Thailand (BoT) more flexibility in lowering the policy rate. A ministry source, who wished to remain anonymous, indicated that this change would enable the central bank to reduce the policy…
- Thailand News
Baht to the future: Finance Ministry and BoT tackle currency surge
The Finance Ministry and the Bank of Thailand (BoT) are set to convene next week to address the strengthening baht and the nation’s inflation target amidst governmental pressure for interest rate reductions. Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced plans to meet with BoT Governor Sethaput Suthiwartnarueput to discuss the baht’s appreciation and related economic concerns. Observers anticipate…
- Business News
Floods drive August inflation up 0.35% due to rising food prices
Rising prices of fresh vegetables and fruit, influenced by flood-damaged production areas, have driven up inflation by 0.35% in August. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn, reported that headline inflation in August saw a 0.35% year-on-year increase. The surge in food prices, particularly fresh vegetables and fruit, was primarily due to flooding in agricultural regions,…
- Business News
Global bond funds attract 88 billion baht, yield 0.50% return
Global bond funds have seen significant popularity over the past 18 months, drawing investments totalling 88 billion baht and yielding an average return of 0.50% for the year to date, according to Morningstar Research (Thailand). Morningstar stated that global bond funds are capable of producing positive average returns this year, although these returns are modest in comparison to the US…
- Environment News
La Niña weather phenomenon likely to further fuel food inflation
The Commerce Ministry is closely observing the transition from the El Niño to La Niña weather phenomenon, which could impact Thailand’s inflation, especially concerning food items like fresh vegetables and fruit due to their water sensitivity. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn stated that data from the Thai Meteorological Department (TMD) shows that El Niño…
- Thailand News
Cracking news: Egg prices to soar due to extreme weather
As announced by the Thai Cooperative Network for Chicken Egg Producers, egg prices are set to rise by 20 satangs per egg tomorrow, citing the extreme weather as the reason for the increase. The farm price for eggs will be 4 baht each, marking an increase of 6 baht per tray. The members of the network include producers from Chachoengsao,…
- Business News
Thailand’s headline CPI rises unexpectedly in April, ends slump.
Commerce Ministry officials in Thailand announced today that the country’s headline consumer price index (CPI) experienced a year-on-year increase of 0.19% this April. This is a notable shift from the previous month’s 0.47% year-on-year decrease and considerably exceeds the 0.25% fall projected by a Reuters poll. Such a rise in inflation after a seven-month negative streak indicates a significant change in…
- Business News
Fed’s rate cut sends gold soaring past US$2,200 per ounce
Gold soared beyond US$2,200 per ounce for the first time, following the Federal Reserve’s decision to maintain its forecast of three rate cuts this year. The Federal Reserve seems undeterred by recent inflation increases. Early trading saw Bullion reach an unprecedented high before retreating slightly. Its meteoric rise since mid-February has been underpinned by enduring support such as escalating geopolitical…
- Press Room
ROSHI unveils groundbreaking insights into personal lending trends
Singapore-based Fintech ROSHI has released a detailed analysis that talks about what types of individuals use personal lending services to tackle financial pressures over 2023’s high inflation economy. This meticulous study utilised first-party application data to delve into the profile characteristics and utilisation patterns of numerous Singaporeans who sought personal loans from ROSHI to mitigate income disparities during the past…
- Business News
Thai PM and central bank clash over interest rates amid low inflation
The clash between Prime Minister Srettha Thavisin, who also holds the Finance Minister portfolio, and the Bank of Thailand (BoT) intensified. The prime minister has been vocal about his belief that the central bank should lower its interest rates as inflation rates have decreased. On a social media platform, PM Srettha blamed the BoT for causing harm to the economy…
- Business News
Thailand’s inflation hits 33-month low sparking economic slowdown concerns
Inflation in Thailand experienced a downward trend for the second month in a row, marking a 33-month low in November. This decrease sparked concerns regarding the increased risk of economic deceleration and potential deflation. The Commerce Ministry of Thailand has also predicted a further decline in the inflation rate in December. Deflation is defined as a period where the prices…
- Business News
Thailand’s central bank forecasts export revival and low inflation
The Bank of Thailand (BoT) anticipates an export revival in the coming year, as revealed in a recent statement. The Bank also projects low inflation rates for the same period, attributing it to government subsidies, albeit with a gradual increase within an acceptable range. Meeting minutes from the BoT’s November 29 monetary policy gathering, released on Wednesday, indicated that while…
- Economy News
Inflation rate in Thailand dips for first time in over two years
The Commerce Ministry of Thailand announced today that the country’s inflation rate has dipped for the first time in 25 months, primarily due to a drop in energy and food prices. This development is attributed to the government’s support measures. The consumer price index (CPI) noted a 0.31% reduction in October, compared to the same period last year. This contrasted…
- Business News
Bank of Thailand maintains 4.4% GDP growth forecast amid stimulus measures
A 4.4% GDP growth forecast for the coming year has been maintained by the Bank of Thailand, factoring in the government’s proposed economic stimulus measures. Assistant Governor Piti Disyatat confirmed this projection following the Monetary Policy Committee’s vote on September 27 to hike the benchmark interest rate by a quarter-point, making it a decade-high 2.5%. The committee, however, reduced its…
- Business News
Inflation squeeze: Investors seek assets that outinflate rising costs
The recent surge in inflation has had a profound impact on the investment landscape, leading to an increase in product prices and living costs. These conditions require investors to strategically select assets that can generate returns that beat inflation. One such investor, Phongthorn Thavontanakul, founder and CEO of Lief Capital Asset Management, shared his insights on investments that can weather…
- Business News
Commerce Ministry revises inflation forecast, amid falling prices
Revising its earlier forecast, the Commerce Ministry now anticipates headline inflation to be within 1-1.7% for the current year, with an average of 1.35%. This comes as a result of expected lowered inflation in the last quarter. In July, the forecasted range was 1-2% with an average of 1.5%. Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, revealed…
- World News
US Federal Reserve poised to raise interest rates for inflation control
The chairman of the US Federal Reserve, Jerome Powell, announced last Friday that they are prepared to increase interest rates further if needed. The central bank aims to maintain high rates until inflation approaches its 2% target. Powell highlighted that despite the recent decline of inflation from its peak, it remains excessively high. In his address to the annual symposium of…
- World News
Lettuce talk about it: Burger King says ‘no more’ to tomatoes as veggie prices squash profits in India
Reverberations from a skyrocketing surge in vegetable prices throughout India are being felt by consumers and the food industry alike, resulting in the popular fast-food business Burger King withdrawing tomatoes from several branches across the nation. Burger King explained to customers that even tomatoes need a vacation. Reuters reported yesterday that two of Burger King’s Indian branches announced… “Even tomatoes…
- Business News
Travel industry girds for weak low season amid cost and weather challenges
The travel industry is bracing itself for an exceptionally weak low season, with predictions of stagnant demand, escalating operational costs at popular destinations, and the impacts of tropical storms. The president of the Thai Travel Agents Association, Charoen Wangananont highlighted that the season’s sale rate for outbound packages significantly lags behind the comparison period recorded before the pandemic. He cited hesitancy…
- Economy News
Rice price hikes worry restaurant owners, some pass costs to diners
Rice prices have begun to climb, causing restaurateurs concern about the cost of producing made-to-order meals. Despite this, some restaurants have opted not to increase prices, sympathising with their customers. They are instead appealing to the government to control the cost. The Ministry of Commerce directed related agencies to balance rice prices after a lull in rainfall from El Niño…
- Phuket News
Blue Flag market unveiled by Phuket to combat rising costs
Phuket is preparing to host a monthly special market dubbed the “Blue Flag.” The market is hoped to bring an economic lifeline to the less affluent residents of the city as they struggle with the inflating prices of common household essentials. The Phuket Provincial Commerce Office has taken the initiative of kick-starting the Blue Flag market beginning from the first week…
- Business News
Bank of Thailand forecasts final interest rate hike amid inflation uncertainty
The Bank of Thailand (BoT) aims to cap its series of interest rate increases with a final 25-basis-point hike slated for August 2, due to an ongoing high and uncertain inflation outlook. This insight has been gathered from a poll conducted recently. After June’s annual headline inflation eased down to 0.23%, falling below the BoT’s target range of 1%-3%, it…
- Economy News
Economic predicament: Ipsos Study reveals Thai citizens’ fears of surging inflation
A feeling of despondency is evident among the population of Thailand as an Ipsos study revealed concerns over increasing inflation and interest rates. The research, which comprised of responses gathered from a substantial 6,000 persons, displays a disconcerting economic predicament, with more than half of the respondents predicting an inflation upswing within the next 12 months. The study was headed by…
- Business News
Thai interest rates raised to 2% by BoT amid core inflation worries
The Monetary Policy Committee of the Bank of Thailand (BoT) anticipates ongoing economic growth with some potential risks, as evidenced by their decision to increase the key Thai interest rates for the sixth consecutive meeting, according to the minutes released recently. On May 31, the committee unanimously agreed to increase the one-day repurchase rate by a quarter point to 2%,…
- Economy News
Thai GDP growth at risk as new government formation faces delays
Concerns are rising within the private sector as the potential delay in the formation of Thailand’s new government could lead to a decline in the country’s GDP growth to 1-2%. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, stated that the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is closely monitoring the political situation. A new government…
- Business News
OECD raises global growth outlook as inflation eases, warns of long road
The Organisation for Economic Co-operation and Development (OECD) has marginally increased its global economic growth forecast to 2.7%, up from 2.6% in its previous report. This revision is attributed to easing inflation, China lifting Covid restrictions, falling energy prices, and supply chain improvements. However, the recovery remains below the 3.3% growth recorded in 2022, and the organisation warns of a…
