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The Latest Breaking News from Bank of Thailand

BoT delivers another quarter-point rate hike

The Bank of Thailand raised its key interest rate by 25 basis points for a fourth consecutive meeting on Wednesday, as it attempts to curb high inflation even as the return of Chinese tourists brightens the country’s economic growth prospects.

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Banking on virtual success

Leading companies in the financial, tech and telecom sectors have expressed interest in developing a virtual bank business, with the aim of exploring greater opportunities in the digital era.

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Hacked by charging cable: A myth

Social media was abuzz after a man posted on his Facebook that 101,560 baht had disappeared from his bank account while he was charging his phone at a public charging station.

Bangkok Post

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BoT issues warning on cybercrime

The Bank of Thailand has warned banks and consumers to keep up their guard against an elevated risk of financial cybercrime.

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Dating app malware blamed for money theft

The Bank of Thailand (BoT) has rejected a social media post that a man lost money from his bank account when recharging his phone at a public outlet, and blamed the theft on a malware attack.

Bangkok Post

Dating app malware, not charging cables, blamed for money theft

The Bank of Thailand (BoT) has rejected a social media post that a man lost money from his bank account when recharging his phone at a public outlet, and blamed the theft on a malware attack.

Bangkok Post

Determining the future of virtual banking

The Bank of Thailand has issued a consultation paper for the virtual bank licensing framework as part of its hearings into the creation of virtual banks as new financial service providers. Below are details about virtual banks listed in the paper and frequently asked questions.

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BoT sets out plan to issue up to 3 virtual banking licences

The Bank of Thailand plans to grant up to three virtual banking licences in the first stage of its digital plans, and will allow both financial institutions and non-financial firms to apply.

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Banks prepare new Central Fraud Registry

The Thai Bankers' Association (TBA) is working to set up the Central Fraud Registry to probe financial fraud in the banking industry.

Bangkok Post

Rise of online payments accelerates march to cashless society

Former magazine editor Kaysinee Sutthavarangkul never used to give much thought to making cashless payments, as it seemed unlikely to her that every transaction could be made online. But she has changed her buying behaviour since the pandemic.

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Baht at 9-month high worries exporters

Gains in the baht, Asia’s best performer in the past six months, are frustrating exporters and many businesses that say the strong currency is hurting them.

Bangkok Post

China optimism lifts Asian equities

RECAP: Asian equities advanced on Friday amid hopes for China's emergence from the pandemic and an economic lift from renewed travel from the mainland.

Bangkok Post

GH Bank keen to target the wealthy segment

Government Housing Bank (GH Bank) wants to tap wealthy customers by offering high-value savings lotteries, aiming to become a new choice for people looking to diversify investment risk and earn a decent return amid a possible global recession and high inflation rate.

Bangkok Post

KTB, AIS eyeing virtual bank

State-owned Krungthai Bank (KTB) has partnered with leading telecom operator Advanced Info Service (AIS) on a plan to jointly invest in a virtual bank, aiming to serve both existing and new customers, says KTB president Payong Srivanich.

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Tiptoeing through the minefield

2023 should be the first time in three years Thailand can fully return to normal practices after Covid-19 was downgraded to endemic in October 2022. Yet busineses still need to stay alert to several obstacles on the horizon.

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Household debt ratio eases slightly

The country’s household ratio eased to 86.8% of gross domestic product in the third quarter from 88.1% in the previous quarter, the Bank of Thailand said on Friday, as the economy continued to recover.

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Year of tighter regulations

Throughout 2022 digital asset businesses were under scrutiny from the Securities and Exchange Commission (SEC), imposing several new regulations to mirror the international market, with the objective of improving investor protection.

Bangkok Post

Long arm of the law affects all

With the economy on a recovery path, 2022 offered a roadmap for various industries to grow and cash in on near-term opportunities. For some sectors, a lack of supervision stymied potential development. As new rules are imposed and others expire, businesses and individuals need to adapt because the government is…

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Current account deficit of $400m reported in November

The country recorded a current account deficit US$400 million in November after a revised surplus of $600 million the previous month, the Bank of Thailand said on Thursday.

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A turbulent economic ride

The spotlight in the business sector this year has been on policy rate hikes, the revival of tourism and the telecom mega-merger.

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Central bank upbeat on long-term growth

The Bank of Thailand expects the economy to continue to align with potential growth projections for the next two years, then strengthen in the longer term.

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Global financial markets face more uncertainties in 2023

Financial markets worldwide face higher uncertainties next year because of the tight monetary policies of key central banks and decelerating global economic growth in 2023, says Bank of Thailand governor Sethaput Suthiwartnarueput.

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Economy continues to recover but faces more challenges

Thailand's economy continues to recover, but faces more challenges with policy priorities to ensure a continued rebound, Bank of Thailand Governor Sethaput Suthiwartnarueput said on Friday.

Bangkok Post

B600 minimum wage is quite doable

The most debated economic topic of the month must be Pheu Thai Party's campaign promise to raise the minimum wage to 600 baht per day by 2027, from the current minimum wage of 354 baht.

Bangkok Post

Local banks forecast to move this week

Local banks are expected to raise interest rates this week following the Bank of Thailand's recent policy rate hike, while borrowers could face a normalisation of loan rates for next year.

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