Popular Post snoop1130 Posted November 28, 2019 Popular Post Share Posted November 28, 2019 Thai central bank chief says worried about rapid baht gains FILE PHOTO: Thailand's Central Bank Governor Veerathai Santiprabhob speaks during an interview with Reuters at the Bank of Thailand in Bangkok, Thailand, October 4, 2019. REUTERS/Matthew Tostevin BANGKOK (Reuters) - Thailand's central bank is still concerned about the rapid strengthening of the baht <THB=TH> and has steadily taken action to prevent the currency from rising too fast, the governor said. The baht's strength has mainly been driven by the country's hefty current account surplus, not "hot money", or speculative fund inflows, Veerathai Santiprabhob told a seminar late on Wednesday. The baht will remain highly volatile, given external uncertainty and high global liquidity, he said. "Nobody can tell if the baht will go higher or lower, but it's likely to be more volatile," Veerathai said. The baht has gained 7.7% against the U.S. dollar this year, making it Asia's best performing currency, and putting further pressure on Thailand's trade-dependent economy amid global trade tensions. Veerathai also said Thai banks' net interest margins were high -at 2.7-2.8%, double those of banks in Singapore - and should be lower. There are no clear measures on how to reduce them yet, but the central bank may consider allowing more non-banks to compete in the market, he said. -- © Copyright Reuters 2019-11-28 Follow Thaivisa on LINE for breaking Thailand news and visa info 5 Link to comment Share on other sites More sharing options...
Popular Post keith101 Posted November 28, 2019 Popular Post Share Posted November 28, 2019 Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . 19 1 3 2 Link to comment Share on other sites More sharing options...
Popular Post Mavideol Posted November 28, 2019 Popular Post Share Posted November 28, 2019 10 minutes ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . you are asking a no brainer to use his brain 555 5 1 5 Link to comment Share on other sites More sharing options...
Popular Post petermik Posted November 28, 2019 Popular Post Share Posted November 28, 2019 7 hours ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . keith They don,t do simple here....a smile and a wai and it,s sorted 4 1 3 Link to comment Share on other sites More sharing options...
Popular Post saengd Posted November 28, 2019 Popular Post Share Posted November 28, 2019 36 minutes ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . Please explain how lowering the bank rate to 0.75% will reduce the value of the Baht and lower the value of the current account surplus? 2 1 Link to comment Share on other sites More sharing options...
Popular Post sherwood Posted November 28, 2019 Popular Post Share Posted November 28, 2019 Only been living here for a year and have come to the conclusion that the place is run by idiots and snake oil salesmen. Struth, what a joke of a country this place is. 4 3 5 Link to comment Share on other sites More sharing options...
Popular Post ICELANDMAN Posted November 28, 2019 Popular Post Share Posted November 28, 2019 Evidently the governor wants to protect the Thais banks with their high interests, which is increasingly extortion, especially on private personal credit. 5 Link to comment Share on other sites More sharing options...
ICELANDMAN Posted November 28, 2019 Share Posted November 28, 2019 32 minutes ago, saengd said: Please explain how lowering the bank rate to 0.75% will reduce the value of the Baht and lower the value of the current account surplus? Yes only print more money lowering currency same Venezuela and many other countries. 2 Link to comment Share on other sites More sharing options...
Popular Post mok199 Posted November 28, 2019 Popular Post Share Posted November 28, 2019 Faster than a speeding locomotive , able to jump tall buildings in a single bound...its SUPER BAHT 3 Link to comment Share on other sites More sharing options...
CLS Posted November 28, 2019 Share Posted November 28, 2019 One more that never had to qualify for his job and has no clue what’s going on. 1 1 Link to comment Share on other sites More sharing options...
metisdead Posted November 28, 2019 Share Posted November 28, 2019 Some off topic posts have been removed. Link to comment Share on other sites More sharing options...
Popular Post brokenbone Posted November 28, 2019 Popular Post Share Posted November 28, 2019 11 hours ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . why dont you just admit you have no relevant economy degree ? 8 Link to comment Share on other sites More sharing options...
Popular Post saengd Posted November 28, 2019 Popular Post Share Posted November 28, 2019 53 minutes ago, brokenbone said: why dont you just admit you have no relevant economy degree ? Along with the seven others who voted it a good idea, that's very worrying. 3 Link to comment Share on other sites More sharing options...
WeekendRaider Posted November 29, 2019 Share Posted November 29, 2019 look at the FRED chart for the world’s biggest oil exporter. Trade Balance: Goods and Services, Balance of Payments Basis (BOPGSTB) running fiscal and trade deficits, which are linked along with endless tax cuts and the biggest military spending on Earth. the twenties... here we are. we could still go massively lower, even if Thailand’s economy was to shrink. 1 Link to comment Share on other sites More sharing options...
saengd Posted November 29, 2019 Share Posted November 29, 2019 2 minutes ago, WeekendRaider said: look at the FRED chart for the world’s biggest oil exporter. Trade Balance: Goods and Services, Balance of Payments Basis (BOPGSTB) running fiscal and trade deficits, which are linked along with endless tax cuts and the biggest military spending on Earth. the twenties... here we are. we could still go massively lower, even if Thailand’s economy was to shrink. Whatever are you talking about and what does FRED data have to do with THB strength? Link to comment Share on other sites More sharing options...
mikebell Posted November 29, 2019 Share Posted November 29, 2019 14 hours ago, snoop1130 said: Thai central bank chief says worried about rapid baht gains The people that matter are not worried - they are buying lots of cheap $$$$ and salting it away off-shore. 1 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted November 29, 2019 Popular Post Share Posted November 29, 2019 14 hours ago, sherwood said: Only been living here for a year and have come to the conclusion that the place is run by idiots and snake oil salesmen. Struth, what a joke of a country this place is. But you relocated here? Just asking... 2 1 Link to comment Share on other sites More sharing options...
Popular Post heybuz Posted November 29, 2019 Popular Post Share Posted November 29, 2019 8 minutes ago, hotchilli said: But you relocated here? Just asking... The power of the pussy is stronger than the baht. 1 2 Link to comment Share on other sites More sharing options...
No1 Posted November 29, 2019 Share Posted November 29, 2019 14 hours ago, ICELANDMAN said: Evidently the governor wants to protect the Thais banks with their high interests, which is increasingly extortion, especially on private personal credit. @ICELANDMANEvidently, as now of today the interest rates for personal and business loans are less connected to the central bank interest rates but to high risk surcharges 1 Link to comment Share on other sites More sharing options...
Popular Post uncleeagle Posted November 29, 2019 Popular Post Share Posted November 29, 2019 as he said, and as ive explained before, the issue is basically the current account surplus. this surplus is a combination of high exports such as tourism and agriculture etc plus imports kept low due to xenophobic protectionism and high import taxes. so in a way it boils down to thainess. either fix the thainess or the laws of supply and demand will eventually fix the thainess for you and it wont be in a nice way. 3 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 29, 2019 Share Posted November 29, 2019 So if hot money inflows (mainly from China) do not drive up Baht appreciation—why not do away with bond sales to Chinese investors altogether? That would prove or disprove this conjecture. So much they’re not admitting... Link to comment Share on other sites More sharing options...
Seeall Posted November 29, 2019 Share Posted November 29, 2019 16 hours ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . yeah, just a load of useless blah blah blah.. whilst the country slips into the <deleted>.... IF u took away all their salaries THEN you would see some action... 1 Link to comment Share on other sites More sharing options...
klauskunkel Posted November 29, 2019 Share Posted November 29, 2019 18 hours ago, snoop1130 said: Thai central bank chief says worried about rapid baht gains It has trickled through... Next stage is the run-around-like-a-headless-chicken-and-flap-your-wings-phase. That will take about 6 months... 2 Link to comment Share on other sites More sharing options...
30la Posted November 29, 2019 Share Posted November 29, 2019 Like all politicians, you too have easy speech and you don't say anything concrete! It is in your power to do something, the problem is that both you and your rich friends are not yet ready for the breakthrough, there is still too much money to be made with speculation! Move your butt and do something before the country is totally on the ground! 1 Link to comment Share on other sites More sharing options...
nong38 Posted November 29, 2019 Share Posted November 29, 2019 It takes courage to ask for help. 1 Link to comment Share on other sites More sharing options...
Mac98 Posted November 29, 2019 Share Posted November 29, 2019 Strong baht=slowing exports. Slowing exports+high household debt=slower economy=higher unemployment. Higher unemployment=more bankruptcies=more social spending=lower tax collections=lower interest rates=lower baht. 1 1 Link to comment Share on other sites More sharing options...
metisdead Posted November 29, 2019 Share Posted November 29, 2019 An inflammatory post has been removed. Link to comment Share on other sites More sharing options...
Srikcir Posted November 29, 2019 Share Posted November 29, 2019 18 hours ago, ICELANDMAN said: Yes only print more money lowering currency same Venezuela and many other countries. Lowering the interest rate on borrowing creates more investment capital available from commercial banks. That in turn depreciates the baht. This approach is different from 'printing money.' The so-called printing money is capital created by the government from its national bank through issuance of treasury bonds by the government. These bonds are debt instruments and will add to the government's deficit budget. Such means of borrowing may or may not affect the value of the nation's currency. It's complicated by a host of economic factors. For example with one factor: If the nation has a history of never defaulting on its T-bills (ie., the USA) more national debt is unlikely to affect currency value. If the nation has a history of default (ie., Venezuela) more national debt will likely devalue its currency further. 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 29, 2019 Share Posted November 29, 2019 Let’s give Veerathai the benefit of the doubt—not much he can do, except worry about the rising Baht. That could mean his hands are tied. Someone above him suggested he sit tight. Now who could do this? 1 Link to comment Share on other sites More sharing options...
Cake Monster Posted November 29, 2019 Share Posted November 29, 2019 21 hours ago, keith101 said: Why don't you just admit you have no idea of how to resolve this problem and maybe someone else can take over or just drop the rate to 0.75% which is still higher than a lot of other Asian nations and release much more of the surplus for use on infrastructure , its fairly simply really . Why release money for Infrastructure when it is just wasted. I witnessed today, a small road that just goes to Cassava and Pineapple fields having a White line put down each side and yellow lines in the middle. Pathetic ! Link to comment Share on other sites More sharing options...
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