Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

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Thailand leaves interest rates unchanged amid unrest

BANGKOK (AFP) -- Thailand's central bank Wednesday kept its key interest rate unchanged at 1.25 percent, citing the country's political instability including anti-government protests this weekend.

The Bank of Thailand's monetary policy committee maintained the same rate for the seventh consecutive meeting since April last year as the kingdom emerges from the global economic crisis.

It said that while the economy had expanded more than expected in the last quarter of 2009, with continued momentum in the export and tourism sectors, there was still high unemployment and public debt.

"The committee took into consideration the persistent uncertainties of the global economic recovery, coupled with domestic risk factors that may affect consumers as well as investor confidence," the bank said in a statement.

Protesters loyal to fugitive former premier Thaksin Shinawatra, who was ousted in a coup in 2006, plan to hold a so-called "million man march" in Bangkok this weekend in a bid to force out the government.

Thai authorities are on high alert and say they will deploy tens of thousands of security forces for the rally.

Bank of Thailand assistant governor Paiboon Kittisrikangwan said the committee would likely raise the rate in its next meeting on April 21 if there is no violence at the rally and if the economic recovery continues.

-- ©Copyright AFP 2010-03-10

Published with written approval from AFP.

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[nakachalet]

i would think the central bank made a wise decision in the face of uncertainty....

to raise the interest rate at an uncertain time would be like killing the golden goose.....

whereas to lower interest rate in trouble time like nowadays.... is likewise suicidal, to say the least....

it appears since the lady who tried to impose 30% withholding on farangs' investment some time ago.... retired from her chair....

most farangs would view thai economy as positively progressive.... and may she (thailand) continues and stays the course....

Edited March 10, 2010 by nakachalet

[Naam]

i would think the central bank made a wise decision in the face of uncertainty....

to raise the interest rate at an uncertain time would be like killing the golden goose.....

whereas to lower interest rate in trouble time like nowadays.... is likewise suicidal, to say the least....

it appears since the lady who tried to impose 30% withholding on farangs' investment some time ago.... retired from her chair....

most farangs would view thai economy as positively progressive.... and may she (thailand) continues and stays the course....

both incorrect information. there was never a flat withholding on farang investments in general. it only applied to short term government bonds. Ms Tarisa is still at the helm of the Bank of Thailand.