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Thailand's economic engine sputtering as global storm approaches
June 19, 2015 1:00 am

Thailand's economic engine sputtering as global storm approaches

The US Federal Reserve decided to keep its zero interest rate unchanged on Wednesday. But the financial markets now expect two rate rises of 25 basis points each this year, to bring the Fed rate to 0.75 per cent before the end of 2015. Any further...

Debt-ridden Thailand being sucked into whirlpool of deflation
June 5, 2015 1:00 am

Debt-ridden Thailand being sucked into whirlpool of deflation

Disinflation - or negative inflation - has hit Thailand for the past five months in a row. In the first quarter of this year, inflation was minus-0.5 per cent. The situation worsened in April, with inflation at negative-1.04 per cent. In May the...

A CASHLESS WORLD equals the end of economic freedom
May 8, 2015 1:00 am

A CASHLESS WORLD equals the end of economic freedom

The war on cash is getting serious. Ever since Harvard economics guru Kenneth Rogoff and Citigroup chief economist Willem Buiter presented their ideas on eliminating cash in favour of digital money, the anti-cash momentum has gathered pace.

BOT's DOUBLE-BARRELLED AIM is poor if it wants to spur growth
May 1, 2015 1:00 am

BOT's DOUBLE-BARRELLED AIM is poor if it wants to spur growth

The Bank of Thailand yesterday sprang a surprise by bringing down its benchmark interest rate from 1.75 to 1.5 per cent. It was a second time in a short period that its Monetary Policy Committee has cut the rate to stimulate economic growth.

Beijing preparing for role in global finance by end of the year
April 24, 2015 1:00 am

Beijing preparing for role in global finance by end of the year

It will be an interesting time this October when China reveals its trump card. And when it does so, it might lead to a wake-up call for the global financial markets.

US allies defect as new world order tips towards China
March 20, 2015 1:00 am

US allies defect as new world order tips towards China

Washington is losing its clout. Its allies in Europe - the UK, Germany, France and Italy - have applied to become members of the China-led Asia Infrastructure Investment Bank (AIIB), defying US calls for them to exercise caution. The institution is...

Apple Inc's sheen lights the way for Thailand
March 13, 2015 1:00 am

Apple Inc's sheen lights the way for Thailand

The Bank of Thailand on Wednesday sprang a surprise by cutting its rate by 25 basis points to 1.75 per cent. In doing so it joined more than 20 central banks worldwide in recent rate cuts aimed at spurring growth. But a consequence of this monetary...

Greece has nothing to lose by heading for the exit
February 6, 2015 1:00 am

Greece has nothing to lose by heading for the exit

Greece is paying a heavy price for handing over its money-printing press to the European Central Bank. Yesterday, the ECB announced it would not accept Greek government bonds as collateral on short-term loans to the country's banks. The measure...

The Ugly American is alive and kicking
January 30, 2015 1:00 am

The Ugly American is alive and kicking

Many Thais have reacted with fury to what is being widely seen as a case of the US meddling in Thai politics. The incident brings to mind "The Ugly American", a film made more than 50 years ago during the cold war. It portrayed...

West speeding towards point of no return with Russia
January 23, 2015 1:00 am

West speeding towards point of no return with Russia

Along with ISIS, President Barack Obama has singled out Russia as an enemy that the United States will have to deal with decisively. In his address on the state of the Union this week, Obama sought to demonstrate his global leadership amid the...