No Speculation On Baht, Says Thai Central Bank

[george]

No speculation on baht, says Thai central bank

BANGKOK: -- Bank of Thailand (BoT) Governor Tarisa Watanagase on Monday indicated that no speculation on the baht had been found although the currency had strengthened in the past one or two days.

She attributed the currency appreciation to foreign capital inflow and foreign investment in the Stock Exchange of Thailand (SET)

However, capital inflow remained normal although small, with some capital flowinged into the stock market as foreign investors began to have renewed confidence in the market.

In comparison with other currencies in the region, she said, the baht is more volatile.

“It is not unusual for the baht to strengthen or weaken in line with investor confidence.

“For instance, when the United States economy picks up, investors will turn to invest or speculate in risk assets, but if the economy is in trouble, they will go home. Many countries are aware of the matter and prepared for possible volatility,” she said

Mrs. Tarisa said the country’s economic figures are not stable. It made investors feel uncertain about investment. Under these circumstances, she reiterated, importers and exporters should hedge against foreign exchange risks.

Asked whether the Thai economy would recover in the fourth quarter of this year as projected by the central bank, she said it must be closely monitored.

Still, she allowed the country’s tourism had dropped significantly due to the global economic slowdown and the spread of A(H1N1) virus.

However, the central bank witnessed signs of improved consumer activity and investment following the distribution of second phase economic stimulus measures by the government.

-- TNA 2009-07-28

[thaimate]

In other words she as usuall hasnt got a clue what is going on.

[Deez]

In other words she as usuall hasnt got a clue what is going on.

LOL

[kalbo123]

Did this woman finish any school?

[MyphuketLife]

Did this woman finish any school?

I am sure she went to a very nice Thai school

Edited July 28, 2009 by MyphuketLife

[Old Man River]

In other words she as usuall hasnt got a clue what is going on.

Tell us, what is going on?

[BSJ]

She is a perfect civil servant if her gobbildy gook answers to reasonable questions are anything to go by!

[animatic]

In other words she as usuall hasnt got a clue what is going on.

Tell us, what is going on?

The Baht is appreciating and she is trying to defend the loss in export power that will further hurt the country,

by

A ) attempting to blame foreign investors,

B ) while making it seem this is NORMAL,

and

C ) a good thing because it means, in theory, they aren't scared off by... insert many things here.

And in the same paragraph seems to indicate FI is normal,

but low,

and has no visible effect.

So yes, face saving gobbldy gook.

It was her rotational cue to say SOMETHING for the press.

Then again is a National Bank pronouncement,

and compares to Greenspan's "irrational exuberance" etc.

wilst saying nothing, while making the markets burp on your shoulder on cue.

Edited July 28, 2009 by animatic

[Old Man River]

In other words she as usuall hasnt got a clue what is going on.

Tell us, what is going on?

The Baht is appreciating and she is trying to defend the loss in export power that will further hurt the country,

by

A ) attempting to blame foreign investors,

B ) while making it seem this is NORMAL,

and

C ) a good thing because it means, in theory, they aren't scared off by... insert many things here.

And in the same paragraph seems to indicate FI is normal,

but low,

and has no visible effect.

So yes face, saving gobbldy gook.

It was her rotational cue to say SOMETHING for the press.

Animatic, I wanted to hear from Thai Mate who took the shot at her. I know you know, but it is obvious that Thai Mate is clueless about how Thai politics works.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

[animatic]

No problem, there are many ways to look at the thing.

Always interesting to see a new one.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

Yes she knows the theory,

but that doesn't mean her hands are untied to actually do it,

and that doesn't mean she got thge RIGHT professors at the

two completely different schools / schools of thought.

Onwards through the fog is pretty much economic prognostication anyways.

[Splatter]

2 T H B or not 2 T H B

that is the question.

[Old Man River]

No problem, there are many ways to look at the thing.

Always interesting to see a new one.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

Yes she knows the theory,

but that doesn't mean her hands are untied to actually do it,

and that doesn't mean she got thge RIGHT professors at the

two completely different schools / schools of thought.

Onwards through the fog is pretty much economic prognostication anyways.

I have talked to her for many years and for the most part I know she knows economics. Still, she blew it on the capital controls for the equity market. To an extent, I think that is why Korn has such a tight control over the BOT and why I think your comment about her time in the cue to say something for the press was spot on.

[Chunkton]

In other words she as usuall hasnt got a clue what is going on.

Tell us, what is going on?

The Baht is appreciating and she is trying to defend the loss in export power that will further hurt the country,

by

A ) attempting to blame foreign investors,

B ) while making it seem this is NORMAL,

and

C ) a good thing because it means, in theory, they aren't scared off by... insert many things here.

And in the same paragraph seems to indicate FI is normal,

but low,

and has no visible effect.

So yes face, saving gobbldy gook.

It was her rotational cue to say SOMETHING for the press.

Animatic, I wanted to hear from Thai Mate who took the shot at her. I know you know, but it is obvious that Thai Mate is clueless about how Thai politics works.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

Well Greenspan and Bernanke also speak perfect English, but they have managed to repeatedly bubble the US economy and completely stuff it up, except for certain bankers of course (like the ones that own the Fed). Now as to the disaster in the UK...

Tarisa may spout nonsense but at least she isn't responsible for the same amount of carnage and destroying the middle class as is the Fed. Don't throw stones in glass houses.

[Chunkton]

Aussie dollar now at 28.272, may be time to bring a few over while the commodities are still running hot.

[Old Man River]

Animatic, I wanted to hear from Thai Mate who took the shot at her. I know you know, but it is obvious that Thai Mate is clueless about how Thai politics works.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

Well Greenspan and Bernanke also speak perfect English, but they have managed to repeatedly bubble the US economy and completely stuff it up, except for certain bankers of course (like the ones that own the Fed). Now as to the disaster in the UK...

Tarisa may spout nonsense but at least she isn't responsible for the same amount of carnage and destroying the middle class as is the Fed. Don't throw stones in glass houses.

I think you are confusing me with someone else. I haven't thrown any stones. In fact, just the opposite.

[zzaa09]

What should be largely amusing {though it's not looked upon that way} is the fact that the world's standard for monetary and economic exchange is based on the U.S......a fanciful illusion looking for a place to hide.

[animatic]

All money is an illusion, that lasts a time and then another takes over.

Scheckles and dracma had their day, no more.

[zzaa09]

All money is an illusion, that lasts a time and then another takes over.

Scheckles and dracma had their day, no more.

A scholar and a gentlemen, you are Animatic!!

[Thai at Heart]

No problem, there are many ways to look at the thing.

Always interesting to see a new one.

For those who have questioned Tarisa's education, she has advanced degrees from Japan and the US (she speaks fluent Japanese and English).

Yes she knows the theory,

but that doesn't mean her hands are untied to actually do it,

and that doesn't mean she got thge RIGHT professors at the

two completely different schools / schools of thought.

Onwards through the fog is pretty much economic prognostication anyways.

I have talked to her for many years and for the most part I know she knows economics. Still, she blew it on the capital controls for the equity market. To an extent, I think that is why Korn has such a tight control over the BOT and why I think your comment about her time in the cue to say something for the press was spot on.

This is how he sees it. It is an interesting read.

http://www.bangkokpost.com/economicmidyear2007/Korn.html

First, I am concerned about issues related to competitiveness. Thai firms remain largely domestic _ our exports remain assembled products or soft commodities. This is almost a direct result of the post-1997 baht devaluation that made Thai exports suddenly hugely competitive on price. Our exports rose from 20% of GDP to today's 70%.

The current outcry by exporters about the impact of a stronger baht is testimony to the fact that we have not in the meantime substantially improved our product quality. We also remain protected. Today, only two out of the top 20 companies listed on the SET are companies that can be said to face free competition. The need for such a wide-ranging Foreign Business Act also betrays our sense of insecurity.

Don't expect a weakening of the baht to "save" business.

[chiang mai]

In other words she as usuall hasnt got a clue what is going on.

Oh contraire, Ms Tarisa has ample clues and more than that she has evidence, you on the other hand....!

[samran]

In other words she as usuall hasnt got a clue what is going on.

Oh contraire, Ms Tarisa has ample clues and more than that she has evidence, you on the other hand....!

exactly. What she says is hardly earth shattering stuff. Had a meeting last week with a well versed investment banker who said exactly the same thing. They look at the same numbers. Their conculsion was speculators have no interest in Thailand.

Too many cynics on this site who seem to think that everyone in charge of the place is a moron, or in this case an over educated one.

Edited July 29, 2009 by samran

[chiang mai]

In other words she as usuall hasnt got a clue what is going on.

Oh contraire, Ms Tarisa has ample clues and more than that she has evidence, you on the other hand....!

exactly. What she says is hardly earth shattering stuff. Had a meeting last week with a well versed investment banker who said exactly the same thing. They look at the same numbers. Their conculsion was speculators have no interest in Thailand.

Too many cynics on this site who seem to think that everyone in charge of the place is a moron, or in this case an over deducated one.

A Refreshing and accurate point of view, so rarely seen on this subject here. Far too many old school expats/long term tourists can't see beyond their last bout of bad service and believe that the entire country is still back in the stone ages, absolute rubbish.

[caf]

In other words she as usuall hasnt got a clue what is going on.

Oh contraire, Ms Tarisa has ample clues and more than that she has evidence, you on the other hand....!

Au contraire, she does not have any evidence, from what she has said..

. I agree with Chiangmai. I'll readily change my mind if you provide the evidence you talk about.

[chiang mai]

In other words she as usuall hasnt got a clue what is going on.

Oh contraire, Ms Tarisa has ample clues and more than that she has evidence, you on the other hand....!

Au contraire, she does not have any evidence, from what she has said..

. I agree with Chiangmai. I'll readily change my mind if you provide the evidence you talk about.

Ah yes, a 70 Baht per Pound/45 Baht per USD poster emerges, welcome! What shall we discuss here, the state of current accounts, the amount of foreign reserves, the significance of the Thai Baht in relation to other minor currencies - for goodness sake, let's not go to the alleged 7% of GDP issue concerning tourism! The numbers are, I feel, self evident and my chum Tarisa thinks the same, apparently.