Bank And Finance

Commercial banks announce hikes in interest rates on fixed deposits

By k on July 16, 2010

BANGKOK, 16 July 2010 (NNT) —Interest rates on fixed deposits and lending rates have been hiked by financial institutions following the hike in the policy rate by the Central Bank. Krungthai Bank has announced its fixed deposit interest rate hike of 0.25-0.35%, while key lending rates would be increased by 0.125-0.15%, effective today. Siam Commercial [...]

Economy in fisrt 5 months expanded continuously despite political rift

By k on July 12, 2010

BANGKOK, 12 July 2010 (NNT) – The Economic Cabinet meeting acknowledges the economic situation in the first five months of 2010 which continuously expands despite political impact, while the tourism sector that has just recovered in June is deemed to turn normal by year-end. According to a report by the Bank of Thailand (BoT) presented [...]

KResearch adjusts GDP estimation up to 4-6%

By k on June 29, 2010

BANGKOK, 29 June 2010 (NNT) – The Kasikorn Research Center (KResearch) has raised the GDP estimation to 4-6% in line with the continuous economic growth. Dr Charl Kengchon, Managing Director of KResearch, stated that the center decided to increase its GDP projection to 4-6% from the original 2.6-4.5% because the economic situation in Thailand in [...]

World Bank: Thai econ in 2010 to grow by 6.1%

By k on June 25, 2010

BANGKOK, 25 June 2010 (NNT) – The Thai economy this year is expected to expand by 6.1% thanks to rapid expansion of the national exports in the first quarter, according to World Bank Economist to Thailand, Frederico Gil Sander. Mr Sander explained that the export sector had expanded beyond estimation made by many economists; therefore, [...]

Fiscal policy unaffected by state officials’ pay raise

By k on June 23, 2010

BANGKOK, 23 June 2010 (NNT) – The salary hike for government officers by 5% will not affect the financial policy, according to the Bank of Thailand (BoT). BoT Deputy Governor Bandit Nijthaworn insisted that the government’s measure to increase the salaries of state officials by 5%, starting in April 2011, would not cause any change [...]

Selecting new BoT chief a difficult task, says finance minister

By k on June 22, 2010

BANGKOK, June 22 (TNA) – Finance Minister Korn Chatikavanij on Monday said the committee tasked to select the new governor of the Bank of  Thailand is finding it difficult to make a decision because each candidate for the position is a senior and veteran person in the money and capital markets. He said the committee [...]

KBank predicts Baht to be stronger in next 3 months

By k on June 21, 2010

BANGKOK, 21 June 2010 (NNT) –Kasikorn Thai bank foresees Thai baht to be stronger in the next three months with the rate probably at 32.20 THB/ USD. Kasikorn Thai Executive Vice President Songpol Chevapanyaroj stated that the baht currency would move in the rage of 32.20-32.30 THB/USD within the next three months, due to the [...]

New Thai central bank governor to be named soon

By k on June 19, 2010

BANGKOK, June 19 (TNA) — Four candidates have applied for the post of governor of the Bank of Thailand (BoT), to succeed Tarisa Watanagase who will retire at the mandatory retirement age of 60 at the end of September, and at least two out of four names will be forwarded to Finance Minister Korn Chatikavanij [...]

BoT predicts Thai economy this year will grow continuously

By k on June 18, 2010

BANGKOK, 18 June 2010 (NNT) –The Bank of Thailand (BoT) foresees Thai economy in the latter half of this year to expand continuously but the risk from global economic improvement, drought and tourism crisis are the factors to be watched closely. The BoT Deputy Governor Bandit Nijthaworn anticipated Thai economic situation for the remaining months [...]

BoT to peg RP rate until the end of 2010

By k on June 16, 2010

BANGKOK, 16 June 2010 (NNT) — The Bank of Thailand (BoT) will peg the RP rate at 1.25% until the end of this year, following the requests of the private sector. After meeting with delegates from the private sector, BoT governor Tarisa Wattanagase and other senior executives are to discuss the direction of the interest [...]

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