Central bank needs to monitor US-China trade rift closely
The Bank of Thailand says it still needs to monitor the trade conflict between the United States and China closely although the country will be slightly affected. Mr Veerathai Santiprabhob, the central bank governor, said that although the impact of the US China trade conflict on the national economy will be minimal, it still needs to be closely monitored. He said indirect repercussions such as the entry of restricted goods into the local market would directly compete with local suppliers and severely chip away at their market share. Similarly, he said that the situation was also a potential windfall for Thai products that will have reduced competition in both the US and China markets. With regards to US targeting Thailand for alleged exchange rate manipulation, an official explanation is being formulated to clarify Thailand’s position to US officials. Commenting on a proposal by the Finance Minister for commercial banks to lower interest rates for SMEs the governor stated that in the past this was possible because of the availability of funding. He went to explain that currently interest rates on loans for SMEs was already very low due to intense competition among commercial banks to attract SME clientele. Therefore he said competitive SMEs therefore had nothing to be worried about. The problems of less healthy SMEs however cannot be solved with soft loans alone as structural internal concerns must be solved first in order for them to become competitive. Thailand’s net interest rate is at mid level slightly higher than in Singapore and Malaysia but lower than Indonesia and the Philippines, he said. The post Central bank needs to monitor US-China trade rift closely appeared first on Thai PBS English News.... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Central bank needs to monitor US-China trade rift closely, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: Thai PBS NETWORK - Tuesday, 10 April, 2018
- Older News
- Vote! Asia markets climb as Bank of Japan keeps monetary policy steady CNBC - ASIA (3 days ago) - Markets in Japan, South Korea, Hong Kong and China advanced Friday morning as the Japanese central bank kept short-term interest rate at minus 0.1 percent and pledged to continue buying...
- Vote! Asia markets trade mostly higher as Japan's Nikkei 225 climbs CNBC - ASIA (3 days ago) - The Bank of Japan is set to deliver its monetary policy decision later in the day. Low inflation has forced the central bank to stick with a massive stimulus program...
- Vote! Philippines' RCBC sues 'vicious' Bangladesh Bank over heist claim REUTERS ASIA NEWS (5 days ago) - A Philippine bank has filed a lawsuit accusing Bangladesh's central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world's biggest cyber...
Popular Asia Job Post Articles
- - Sacred rituals of the coronation
- - Witchfinder General
- - Phuket Opinion: Cashing in on the ‘Smart City’
- - Anutin vows cooperation with all parties
- - A motorcycle driver armed with a passion for art
- - Christchurch Death Toll Rises to 50
- - New Zealand police say death toll in mosque terror attack has risen to 50
- - Yellow vest rioters run amok in Paris
- - New Zealand Mosque Attack: The Victims, Their Stories
- - Early voting begins in Thailand’s first election since 2014 coup