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Thailand Economic updates: FOREX Policy rate on hold amid record-breaking exports
Business, Bangkok bank, Published on 28/06/2021
» The Monetary Policy Committee (MPC) unanimously voted to maintain the policy rate at 0.5% for the ninth straight meeting. We believe the BOT will leave the rate unchanged for at least another couple of years. The BOT believes that previous financial support schemes, such as rehabilitation loans and asset warehousing, will benefit businesses and households more than lowering the policy rate further.
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As global demand recovers, exports set to accelerate
Business, Bangkok bank, Published on 31/05/2021
» In April 2021, Thailand’s export value surpassed $20 billion for the third month in a row, with a growth rate of 13.09% YoY, the largest gain in 36 months. Excluding gold, oil-related products, and weaponry, April exports skyrocketed 25.7% YoY. Rising export trend is consistent with Global Manufacturing PMI level of 55.8, the highest in 11 years. Nevertheless, imports climbed 29.8% YoY to $21.25 billion, resulting in a comparatively small trade surplus of $182.48 million — a collapse from April 2020 surplus of over $ 2.5 billion. Perhaps, it’s worth noting that last year’s export performance was distorted, and therefore severely understated, by the global lockdown.
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