webfact Posted October 11, 2019 Share Posted October 11, 2019 Worried BOT says it has more ammunition to rescue economy By The Nation Titanun Mallikamas (second to right) The Bank of Thailand (BOT), the central bank, foresees continued economic slowing and declining interest rates, but insists it’s ready to take action to support the economy. The bank’s monetary policy committee (MPC) is confident that its reduction in the interest policy rate in August will support economic expansion and help return headline inflation to its targeted framework, the assistant governor of the Monetary Policy Group said after a meeting on Thursday between BOT executives and analysts representing financial markets. “The MPC will closely monitor risk factors, especially the effects of escalating trade protectionism, and is ready to use policy tools if needed,” Titanun Mallikamas said. It will also closely follow via several channels exchange rates and capital flow and their impact on the baht, he said. “The MPC will introduce additional measures in suitable circumstances, including some on which the central bank could take action right away, such as relaxing the rules on capital outflow and encouraging Thais to invest overseas,” said Titanun. He said the BOT needs to collaborate with other agencies, like the Board of Investment, to promote investment in the country and thus reduce the current-account surplus, which remains high. To offset the slowing economy and low interest rates, the bank must improve efforts to regulate financial institutions via micro-prudential measures and maintain financial stability via macro-prudential measures, Titanun said. It should also collaborate with other agencies to tackle high household debt and business debt, which demand separate strategies since they dealing with different groups of clients, he said. He noted that some people are financially sound, some with high debt and some who lack financial discipline. The central bank and other agencies have to jointly promote financial discipline, debt restructuring, household savings and responsible lending by financial institutions, he said. Source: https://www.nationthailand.com/business/30377296 -- © Copyright The Nation Thailand 2019-10-11 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
keith101 Posted October 11, 2019 Share Posted October 11, 2019 They like talking about what they can and usually leave it till the last minute or to late to do it and the economy and the people are the ones that take the brunt of their inaction . I see shops that are usually open 7 days a week closed at least 1 or 2 days now simply because people either don't have the money to spend with all the increases in the costs of food etc . Link to comment Share on other sites More sharing options...
Matzzon Posted October 11, 2019 Share Posted October 11, 2019 They do like all other countries have done for centuries. They try to save, until it´s not possible no more. Everybody knows that the bubble bursts and that they pay more for it the longer they wait. When is a country going to learn to take the downs, cut their losses as quick as possible instead of making them grow, and prepare for the ups instead? Link to comment Share on other sites More sharing options...
Reigntax Posted October 11, 2019 Share Posted October 11, 2019 More ammunition must mean purchase more military equipment. Not really an issue for this government to push Link to comment Share on other sites More sharing options...
mok199 Posted October 11, 2019 Share Posted October 11, 2019 Casino's....The magic bullet....$$$$$$$ Link to comment Share on other sites More sharing options...
kevin612 Posted October 11, 2019 Share Posted October 11, 2019 Talking about investment, you need to let foreigners to own the company. I am back off because of the 49%. Link to comment Share on other sites More sharing options...
RotBenz8888 Posted October 11, 2019 Share Posted October 11, 2019 55 minutes ago, webfact said: some with high debt and some who lack financial discipline. some....???? Link to comment Share on other sites More sharing options...
petermik Posted October 11, 2019 Share Posted October 11, 2019 7 hours ago, RotBenz8888 said: some....???? yes some....like 90% Link to comment Share on other sites More sharing options...
legend49 Posted October 11, 2019 Share Posted October 11, 2019 5 hours ago, Reigntax said: More ammunition must mean purchase more military equipment. Not really an issue for this government to push They have as much ammunition to fix the economy as my BB gun has? Link to comment Share on other sites More sharing options...
RichardColeman Posted October 11, 2019 Share Posted October 11, 2019 6 hours ago, webfact said: He noted that some people are financially sound, some with high debt and some who lack financial discipline. 1%, 90%, 99% respectively Link to comment Share on other sites More sharing options...
brucegoniners Posted October 11, 2019 Share Posted October 11, 2019 These guys have absolutely no clue what they're doing. They need to take more control over the currency like other countries do. But they just let it float. Dummies! Link to comment Share on other sites More sharing options...
30la Posted October 11, 2019 Share Posted October 11, 2019 6 hours ago, webfact said: The Bank of Thailand (BOT), the central bank, foresees continued economic slowing and declining interest rates, but insists it’s ready to take action to support the economy. If you are ready ... what are you waiting for? A sign from above or that the speculators let you know that you can it now? Link to comment Share on other sites More sharing options...
Cake Monster Posted October 11, 2019 Share Posted October 11, 2019 Thailands good times have gone For 40+ Years or so Thailand has been propped up by Foreign Governments with Aid , Help with Infrastructure Etc The USA, France Japan Etc have poured Mega Money into Thailand over the Years, and all its spawned is Greed and Corruption Now these Countries do not give, and the Country is struggling to manage its own affairs correctly, as they have never had to do this before. Within the BOT statement is the reason they are unable to do anything with the Baht " HIGH HOUSEHOLD DEBT AND BUSINESS DEBT " Link to comment Share on other sites More sharing options...
Destiny1990 Posted October 11, 2019 Share Posted October 11, 2019 Maybe the plan is to hope that coming high season will make up for all the losses? Link to comment Share on other sites More sharing options...
Isaan sailor Posted October 11, 2019 Share Posted October 11, 2019 Talk is cheap. Just do it. Link to comment Share on other sites More sharing options...
neeray Posted October 11, 2019 Share Posted October 11, 2019 “An ounce of prevention is worth a pound of cure” BOT. Act now, don’t wait until the ship is sinking. Link to comment Share on other sites More sharing options...
PatOngo Posted October 11, 2019 Share Posted October 11, 2019 14 minutes ago, neeray said: “An ounce of prevention is worth a pound of cure” BOT. Act now, don’t wait until the ship is sinking. Be patient, they are waiting for the most auspicious time! aus·pi·cious giving or being a sign of future success. "they said it was an auspicious moon—it was rising" Link to comment Share on other sites More sharing options...
mikebell Posted October 11, 2019 Share Posted October 11, 2019 21 hours ago, kevin612 said: Talking about investment, you need to let foreigners to own the company. I am back off because of the 49%. Totally agree. I fell for the Company House buying scam perpetuated by Estate Agents/Lawyers/Auditors. It cost me and my children a good chunk of their inheritance. Link to comment Share on other sites More sharing options...
yellowboat Posted October 12, 2019 Share Posted October 12, 2019 22 hours ago, webfact said: promote investment in the country Dream on. cha cha's first order of business was to make doing business here more difficult. Other countries are far better to do business in. Many expatriate jobs are gone. All signs of stagnation or a downward spiral. Link to comment Share on other sites More sharing options...
hotchilli Posted October 12, 2019 Share Posted October 12, 2019 23 hours ago, webfact said: Worried BOT says it has more ammunition to rescue economy But Prayuth says he's got the economy under his control.. so what rescue is needed? The truth is starting to come out slowly as the economy tanks.... Prayuth is going to have to get some real experts in. The baht strength has screwed tourism and exports which affects many local businesses, and the economy in general is suffering... The elite are like the Titanic bosses, they think Thailand is unsinkable... well guess what! Link to comment Share on other sites More sharing options...
Sticky Wicket Posted October 12, 2019 Share Posted October 12, 2019 12 hours ago, Isaan sailor said: Talk is cheap. Just do it. just like the women! Link to comment Share on other sites More sharing options...
Sticky Wicket Posted October 12, 2019 Share Posted October 12, 2019 49 minutes ago, hotchilli said: But Prayuth says he's got the economy under his control.. so what rescue is needed? The truth is starting to come out slowly as the economy tanks.... Prayuth is going to have to get some real experts in. The baht strength has screwed tourism and exports which affects many local businesses, and the economy in general is suffering... The elite are like the Titanic bosses, they think Thailand is unsinkable... well guess what! That's why they are buying copious amounts of military hardware! Link to comment Share on other sites More sharing options...
BuckBee Posted October 12, 2019 Share Posted October 12, 2019 what interest rate cut, reality was some idiots raised it then put it back so no real change, should of dropped another 0.25. easing outflow should also been done 2 months ago, they might do more early 2020 ! hopefully as things be much worse by then globally . Link to comment Share on other sites More sharing options...
kingdong Posted October 12, 2019 Share Posted October 12, 2019 There may be trouble ahead,still while the band's playing keep on dancing. Link to comment Share on other sites More sharing options...
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