(Bloomberg) The escalating tug-of-war between Thai politicians and central bankers over interest-rate levels is clouding the outlook for local banks, setting the stage for a further exodus by foreign investors. Most Read from BloombergMusk’s $55 Billion Pay Package Voided, Threatening World’s Biggest FortuneMusk Says First Neuralink Patient Received Implant in BrainMicrosoft Sales Top Estimates; Cloud Growth Disappoints SomeTech Giants Slide in Late Trading After Earnings: Markets WrapUPS CEO
The cross-border transaction of AED50 million ($13.6 million) was sent by Sheikh Mansour bin Zayed Al Nahyan, chairman of the board of the Central Bank of the UAE, to China.
(Bloomberg) Thailand’s benchmark interest rate is “too high,” hurting the standard of living of people and weighing down the economy, according to Deputy Finance Minister Julapun Amornvivat who urged the central bank to consider easing monetary policy.Most Read from BloombergRussia Says Ukraine Downed Plane Carrying Prisoners for SwapTesla Flags ‘Notably Lower’ Growth as It Builds Low-Cost CarBillionaire Joe Lewis Pleads Guilty in Insider Trading CaseTrump Races Toward 2024 Biden Rematch Afte
(Bloomberg) Thailand’s economic recovery lost momentum last year and missed official forecasts, according to a government spokesman Chai Wacharonke, potentially piling pressure on the central bank to pivot to early easing. Most Read from BloombergFlorida Governor DeSantis Drops Out of 2024 Race, Endorses TrumpChina Weighs Stock Market Rescue Package Backed by $278 BillionHong Kong Stocks at 36% Discount Show True Depth of China GloomMorgan Stanley, JPMorgan Say Buy the Dip After Treasury Rout
Thailand's current policy rate is broadly neutral and the country's slower-than-expected economic growth forecast for this year did not constitute a crisis, its central bank chief told Reuters on Tuesday. Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput said he had no concern about negative inflation and the country's economic problems were due to structural issues and would not be solved by quick stimulus measures being pursued by the government. The government of Prime Minister Srettha Thavisin, a real estate mogul and political newcomer, has described the country's sluggish economy as being in "crisis", and aims to give it a jumpstart with his signature 500 billion baht ($14.05 billion) digital handout scheme to boost consumption.