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Thailand is heading for a rare current account deficit this year with the country missing out on the billions of dollars earned from tourism, likely piling more pressure on the nation’s already battered currency. ....
CIMB Thai Bank (CIMBT) expects the economy to contract this year if the government is unable to get Covid-19 infections under control in the third quarter. ....
Investor confidence declines to lowest level in 9 months Market waits for vaccine distribution published : 4 Aug 2021 at 04:00 67 Investor confidence has plunged to its lowest level in nine months and is now bearish amid concerns over Thailand s worsening pandemic and economic contraction, according to a new survey. Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations (Fetco), said the Investor Confidence Index (ICI) in July, which anticipates market conditions over the next three months, was at 64.4, down 39.3% from the previous month. It fell into bearish territory, which is anything below 80, for the first time in nine months. Vaccine distribution to help ease the pandemic remained the strongest factor supporting investor confidence, followed by the pace of the local economic recovery and hopes that government policies would shore up the economy. ....
Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), said the FETCO Investor Confidence Index (FETCO ICI) in July, which anticipated the market condition over the next three months, is at 64.37, dropping 39.3 percent from the previous month, and enters bearish zone. COVID-19 vaccine distribution to help ease COVID-19 situation is the most supportive factor investors have anticipated, followed by pace of local economic recovery and how government s policies will shore up the economy. However, worsening COVID-19 pandemic in Thailand, followed by international conflicts and the country s economic retreat are the most concerning factors. Highlights of FETCO Investor Confidence Index surveyed in July 2021 are as follows; ....
Bank of Thailand holds rate, cuts GDP forecast on Covid spike 13 published : 4 Aug 2021 at 15:16 updated: 4 Aug 2021 at 16:54 13 Monetary Policy Committee secretary and assistant governor of the Bank of Thailand Titanun Mallikamas (Photo: Bank of Thailand) The Bank of Thailand (BoT) held its key interest rate unchanged and cut its economic forecast a day after lockdown-like measures were extended to more of the country, with two dissenting members saying rates should be lowered even further. The BoT’s Monetary Policy Commitee voted four to two to hold the one-day repurchase rate at a record-low 0.5% for a 10th straight meeting Wednesday. The two dissenters called for a 25-basis point rate cut, the committee’s first split vote since May 2020. ....