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#1 reader

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Posted 16 May 2018 - 07:34 PM

NOTE -- The dollar has been strengthening vs the baht since early April and was trading at $32.12 at time of this posting. You can check current exchange rates for all currencies at the following link.

https://www.xe.com/currencyconverter/

 

From Bloomberg News

 

Thailand’s central bank left its benchmark interest rate unchanged near a record low, and said it doesn’t feel pressure to join a global wave of tightening that’s swept along some peers in Southeast Asia.

 

Monetary policy committee members voted unanimously to hold the one-day bond repurchase rate at 1.5 percent, where it’s been since 2015, according to a Bank of Thailand statement on its website on Wednesday. All 23 economists surveyed by Bloomberg predicted the decision. One committee member was unable to attend the meeting, the central bank said.

 

The cushion of high foreign-exchange reserves makes it possible for the Thai central bank to independently focus its policy on the local economy, Assistant Governor Jaturong Jantarangs said in a briefing in Bangkok.

 

Four years after the military seized power, the economy remains dependent on exports and tourism and companies are reluctant to invest at home. Strong foreign-reserve buffers and a current-account surplus are helping to shield the nation from emerging-market volatility, giving the central bank scope to skirt a wave of policy tightening as the U.S. raises rates.

 

Continues with Bloomberg analysis

https://www.bloomber...rops#gs.TrzUc_I

 

 

 



#2 reader

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Posted 20 June 2018 - 07:05 PM

NOTE --USD was trading at 32.81 on XE currency conversion site at time of this posting.

 

From Bloomberg

 

Thailand’s central bank left its benchmark interest rate unchanged near a record low, bucking a regional trend as more central banks tighten policy amid a global emerging-market rout.

 

Five of the six monetary policy committee members present at the meeting voted to hold the one-day bond repurchase rate at 1.5 percent, where it’s been since 2015, according to a statement on the Bank of Thailand’s website on Wednesday. One MPC member voted for a 25 basis-point hike. All 22 economists surveyed by Bloomberg predicted the rate would stay on hold.

 

The baht has slid 0.7 percent against the dollar this year, compared with a 6.6 percent slump in the Philippine peso and a 2.6 percent drop in the Indonesian rupiah. The Philippine central bank raised its benchmark rate for a second month on Wednesday.

In Thailand, monetary policy stability is helping to support a pick-up in economic growth as exports climb and consumer spending strengthens. Growth reached a five-year high of 4.8 percent in the first quarter. Inflation climbed to 1.5 percent in May, staying inside the central bank’s target range of 1 percent to 4 percent for a second month.

 

https://www.bloomber...g-rates-on-hold






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