rates
- Thailand News
Thai prime minister pressures Bank of Thailand for rate cut
The Bank of Thailand (BoT) is under increasing strain today as Prime Minister Srettha Thavisin publicly urges a 25 basis point reduction in rates. The demand is part of a continued push from the government for the BoT to decrease interest rates, a tactic it views as crucial for stimulating an economy it believes to be struggling. The government also…
- Thailand News
Steady gold prices in Thailand spark call for quick decisions
The Gold Traders Association (GTA) revealed that today’s gold prices remain unchanged from yesterday, urging quick decisions to be made. As of today, the selling price for gold ornaments is stated at 34,350 baht per baht-weight, a steady hold from the final price of yesterday, according to the most recent data from the GTA at 9.03am. Gold bars with 96.5%…
- Business News
Banking on change: Thai banks raise policy rates to woo depositors with digital deals
Following the Bank of Thailand‘s decision to hike its policy rate by 0.25 percentage points, banks are now increasing both their loan and deposit rates. In a bid to attract depositors, special rates are being offered on digital savings products. Siam Commercial Bank (SCB), the country’s fourth-largest lender by total assets, has acted promptly to the central bank’s policy rate…
- Business News
Thai state banks raise interest rates after central bank policy hike
Following the Bank of Thailand‘s recent policy rate increase, state banks, including the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC), have raised interest rates for loans and deposits, with deposit rates exceeding loan rates. Vitai Ratanakorn, GSB’s president and chief executive, stated that after the central bank’s policy rate increased by a quarter percentage…
- Business News
Bank of Thailand likely to hike rates amid inflation concerns
Inflation concerns prompt predictions of further Bank of Thailand rate hikes this year, as the nation’s economy recovers. Siam Commercial Bank’s research unit, SCB Economic Intelligence Center (EIC), anticipates the central bank’s Monetary Policy Committee (MPC) will increase its policy benchmark rate by a quarter percentage point in both August and September, bringing it to 2.5% from the current 2%.…
- Business News
Bank of Thailand raises key interest rate amid inflation risks
The Bank of Thailand announced a 25 basis point increase in its key interest rate, bringing it to 2%. This marks the sixth consecutive meeting where the central bank has raised the rate, with a total increase of 150 basis points since August last year. The decision was unanimous among the Monetary Policy Committee members and in line with the expectations…
- Hot News
Thailand promotes tourism with subsidies, vouchers nationwide
Thailand is promoting tourism by offering rate subsidies on hotels and food vouchers at participating businesses nationwide. According to Bangkok Post, the Thai Cabinet approved a budget of 3.95 billion baht to stimulate tourism, which includes 2.02 billion baht set aside for food-tour vouchers and room discounts of up to 40%. Under the government’s “We Travel Together” campaign, 560 hotel…
- China News
Millions of Chinese head home to countryside despite Xi’s Covid worries
Millions of Chinese residents are headed back home for the Chinese New Year despite President Xi Jinping’s worries about Covid spreading through rural areas. Xi said he was “concerned” about the countryside’s ability to handle a surge in Covid infections, but China’s transport authorities are predicting more than two billion trips will be made this month and into next month.…
- Economy News
Thai baht to continue dropping against the USD
The Thai baht is forecast to droop to a 4-year low over the next trading week, and its largest monthly currency drop for over 20 years. The Baht’s challenges shadow US dollar gains over concerns about the US Fed’s (US Federal Reserve) ‘tapering’ plans as it reins in enthusiastic stimulus of the US economy. Thailand’s baht has been the region’s…
- Covid-19 News
US records over 100,000 patients hospitalised with Covid-19
Bad news: 100,000+ people are currently hospitalised with Covid-19 in the US. Good news (if you’re vaccinated): The the vast majority of this wave’s hospitalised patients are yet to be vaccinated. The latest surge of Covid cases sweeping the US is largely driven by the more transmissible Delta variant of the coronavirus. The more than 100,000, currently in US hospitals, in…
- Health
Has Thailand’s suicide rate increased due to Covid-19 restrictions? – VIDEO
Another Thaiger video on Thaiger TV. Please subscribe. Before Covid, around the world every 40 seconds someone lost their life to suicide and nearly 800,000 people die due to suicide every year, according to statistics from the WHO. In Thailand, suicide is the second leading cause of death among 15-29 year olds, after road fatalities. Now, an apparent rise…
- Covid-19 News
Number of Covid-19 cases passes 3.5 million worldwide
The number of Covid-19 cases around the world yesterday passed the 3.5 million mark, with a worldometers.com tally confirming 84,004 new cases in the last 24 hours. However, the growth in new cases is finally starting to slow down – flattening the curve. Nearly a quarter of a million people have now died from the virus, with Europe and the…
- Covid-19 News
PM seeks compensation packages for tourism operators
PM Prayut Chan-cha, today posted a picture of himself in a meeting with the Thai Tourism Business Association on his official Facebook page, with the following message… “The other day, I had a meeting with small and medium sized business associations to listen to the situation they are in and asked them to give suggestions to me directly. In addition…
- Covid-19 News
Thai banks cut lending rates to ease Covid-19 fallout
Today the Bank of Thailand, in a joint effort with the Financial Institutions Development Fund, eased debt repayment requirements, in bid to help people affected by the Covid-19 virus who are unable to pay monthly minimums. Kasikornbank (KBank) and Siam Commercial Bank (SCB) are also planning to reduce their prime lending rates by 40 basis points. The KBank co-president Predee Daochai…
- Economy News
The almighty baht set to fall further despite rate cuts, stimulus
A lot has changed for the baht. It was only months ago that The Bank of Thailand considered drastic measures to rein in the rambunctious baht, whose massive gains in currency markets made it the darling of speculators. In December Kasikorn Bank released a report outlining reasons the baht “will remain strong into 2020.” The bank’s research arm forecast the…
- Expats
Foreigners crying foul over the new dual pricing policy at Thai public hospitals
Thailand’s expat community is reeling after the news of Thai public hospitals given the greenlight to charge foreigners higher rates for foreigners than the locals – a classic dual-pricing policy. The new split rates kick in from September 29. But the health ministry say the new rates actually provide more set prices for services and procedures and, in some cases,…
- Business News
Thai baht may need another ‘haircut’ by the Bank of Thailand before the end of 2019
Wednesday’s rate cut by the Bank of Thailand has not succeeded in reining in the surging baht, raising the prospect of another interest rate cut by 0.25 of a percentage point before the year-end. While the central bank’s statement on the policy rate reduction didn’t mention the strength of the baht, economists suspect the baht’s strength and its impact on…
- Business News
Bank of Thailand cuts policy rate, to 1.5%
The Bank of Thailand’s Monetary Policy Committee has made a surprise decision today to cut the policy interest rate amid pressure to avert an economic slowdown and hedge the heightened trade war between the US and China. The MPC cut the interest rate by only 25 basis points to 1.5 %. But the cut is significant. Of the seven-member committee,…
- Business News
Thailand’s baht is getting stronger, and that’s a problem
Since the beginning of 2018, Thailand’s currency has jumped more than 5% against the US dollar. Year-on-year it’s bounced up nearly 8%. The Thai Central Bank may be forced to cut rates to curb the popular currency. The Thai baht continues to soar against the USD this year, significantly more than many other emerging market currencies. But the flexing Baht muscle…
- Bangkok News
Taxi operators want new rates to apply to all taxis
Taxi companies are urging Thailand’s Department of Land Transport (DLT) to apply a new taxi fare to all taxis, not just members of the TAXI OK program. According to DLT Deputy Director General, Kamol Buranapong , a meeting was recently held between the DLT and taxi companies which are facing rising operating costs. The DLT proposed that either a 3 baht…
