Monetary Policy Committee maintains policy rate at 2.50%

13 Sept 08:38 Key points summarised by AI

The Bank of Thailand’s Monetary Policy Committee (MPC) voted 6-1 to maintain the policy rate at 2.50% for the fourth consecutive time, despite government pressure for a cut.
Most committee members deemed the current policy rate consistent with the economic situation and conducive to safeguarding macro-financial stability.
Thailand's economy is projected to expand by 2.6% this year and 3.0% next, driven by strong domestic demand, tourism recovery, and accelerated fiscal spending.
Exports face subdued growth due to structural headwinds and declining competitiveness, particularly in the automotive sector, creating uncertainty for recovery.
High household debt remains a significant concern for the MPC, emphasizing the need for credit growth to align with debt deleveraging for long-term financial stability.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.