Central Bank Reports Unexpectedly High Inflation

[webfact]

 

BANGKOK, (TNA) – The Bank of Thailand informed the finance minister that inflation exceeded its expected level and should return to its normal pace late this year.

 

BOT governor Sethaput Suthiwartnarueput sent an open letter on the high inflation to the finance minister. The letter dated on April 8 read that the average headline inflation would be above the 1-3% range that the Monetary Policy Committee and the finance minister had jointly set on Nov 16, 2021, for 2022 and a medium term.

 

Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

On March 30, the MPC predicted that the headline inflation in the next 12 months (from the second quarter of this year to the first quarter of next year) would run at 4.1%, exceeding the earlier set range.

 

Full story: https://tna.mcot.net/english-news/line-today-english-news-922134

 

-- © Copyright TNA 2022-04-13

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[RandiRona]

Inflation charge of 300bht per ticket per tourist coming right up!!

[StayinThailand2much]

2 hours ago, webfact said:

On March 30, the MPC predicted that the headline inflation in the next 12 months (from the second quarter of this year to the first quarter of next year) would run at 4.1%, exceeding the earlier set range.

If they can predict inflation figures up to the first quarter of 2023 that precisely, perhaps they could help me to prognosticate next week's lottery numbers... ????

Edited April 12, 2022 by StayinThailand2much

[ThailandRyan]

Computation of issues which they far from estimate as correct will lead to a faulty projection on the screen in front of them as inflation spirals out of control while they continue to not raise interest rates. This government has screwed the pooch on everything they touch 

[ikke1959]

And the THB gets stronger again.....

[hotchilli]

4 hours ago, webfact said:

The Bank of Thailand informed the finance minister that inflation exceeded its expected level and should return to its normal pace late this year.

All's well that ends well then?

[ThailandRyan]

1 hour ago, hotchilli said:

All's well that ends well then?

Yep, as those in power keep stuffing their pockets and raping and pillaging the country...

[userabcd]

"BANGKOK, (TNA) – The Bank of Thailand informed the finance minister that inflation exceeded its expected level and should return to its normal pace late this year."

 

Notice they dont explain how this will be achieved.

 

Just kicking the can down the road and then later coming up with another reason.

[kotsak]

Unexpectedly? ????

[Isaan sailor]

Just another excuse so Bank of Thailand can jack up the Baht again.  I’ve seen this movie before…

[Isaan sailor]

3 hours ago, ThailandRyan said:

Computation of issues which they far from estimate as correct will lead to a faulty projection on the screen in front of them as inflation spirals out of control while they continue to not raise interest rates. This government has screwed the pooch on everything they touch 

Be careful what you wish for.  If BoT raises interest rates—watch the Baht skyrocket, as currency traders will pile on.

[Enzian]

 

 

As with Covid, nobody knows what's going to be the case with inflation here or anywhere later this year. As with the US Fed and Treasury, predictions are either political or an artifact of incompetence. Uncertainty is the rule, so just turn out the lights and go home for the day.

Edited April 13, 2022 by Enzian
typo

[Photoguy21]

5 hours ago, StayinThailand2much said:

If they can predict inflation figures up to the first quarter of 2023 that precisely, perhaps they could help me to prognosticate next week's lottery numbers... ????

The lottery numbers are easy. YOU WILL NOT WIN

[Cake Monster]

7 hours ago, webfact said:

BANGKOK, (TNA) – The Bank of Thailand informed the finance minister that inflation exceeded its expected level and should return to its normal pace late this year.

It really does not instill too much confidence in the Economy when the BOT makes a statement such as this to the Finance Minister.

These are the people that should have a finger on the pulse of the Economy, and if they make such a statement, its because they really have not been paying too much attention to the Job they are entrusted to do.

[vandeventer]

2 hours ago, ThailandRyan said:

Yep, as those in power keep stuffing their pockets and raping and pillaging the country...

So the root cause is voting for them?

 

[worgeordie]

7 hours ago, webfact said:

inflation exceeded its expected level and should return to its normal pace late this year.

I thought everyone knew when prices go UP , they never come

DOWN again , and he's a Finance minister ........????

regards Worgeordie

[userabcd]

2 hours ago, vandeventer said:

So the root cause is voting for them?

 

To be frank, voting changes nothing for most.

 

The background bureaucracy really managing everything does not change.

[ThailandRyan]

2 hours ago, vandeventer said:

So the root cause is voting for them?

 

Who voted these guys in? They took power by a Coup.....

[Caldera]

Totally unexpected. By the Central Bank, no less. 

[Excel]

Utter morons. Unexpected ? The sensible folk have been predicting the obvious for a long time yet this government choose to ignore those predictions.

[DJ54]

Reminds me in Field Sales new president fresh from the Mothership... asked where did you get the forecast? He said pulled out of my ass.. I said ok that’s what I thought... he never asked me anything...