reader Posted April 3, 2020 Posted April 3, 2020 From The Nation New service hours as curfew takes effect Train operators in Bangkok have adjusted their service hours after the government declared a curfew on Thursday (April 2), ordering suspension of all public transport nationwide from 9.30pm to 4am from April 3 until further notice. Bangkok Mass Transit System Pcl, operator of BTS Skytrain, said on Thursday (April 2) that all BTS stations on the Sukhumvit and Silom lines would be open until 9.30pm starting Friday (April 3) until further notice. For further information, contact Customer Service Centre on 02-617-6000. Meanwhile, Mass Rapid Transit Authority of Thailand and Bangkok Expressway and Metro Plc, operators of MRT electric trains, also announced on the same day that the MRT Blue Line and Purple Line trains will run from 6am to 9.30pm and that all stations will be open until 9.30pm from April 3 onwards. https://www.nationthailand.com/news/30385329 ============================================================================================================= From Bloomberg News Govt plans more stimulus, monetary policy flexibility Thailand unveiled plans for fresh government stimulus as well as rule changes to improve monetary policy flexibility, stepping up efforts to cushion the blow from the novel coronavirus outbreak. The latest stimulus would be funded by new borrowing and reallocation of the existing budget, and could be approved April 7, Deputy Prime Minister Somkid Jatusripitak said in a joint briefing Friday. The overall planned package, including steps like loans, amounts to 10% of gross domestic product, he said. Bank of Thailand Governor Veerathai Santiprabhob at the same briefing said the amount banks pay to a financial bailout fund will be cut to 0.23% of deposits annually from 0.46%, adding that this will improve the “transmission process” of monetary policy. The Thai economy is set for the worst contraction this year since the 1990s as tourism, exports and consumer confidence stall, putting pressure on the government to step up spending. At 10% of gross domestic product, the third package would be equivalent to about $50 billion based on the size of the Thai economy last year, according to data compiled by Bloomberg. The central bank said Friday it’s seeking a law that would enable it to purchase good quality, maturing corporate bonds that are being rolled over. The bank would be able to purchase at most half, but not all, of the debt being rolled over. The goal is to backstop the corporate bond market, Veerathai said. The administration has already rolled out economic packages designed to deliver a boost of more than 500 billion baht ($15.1 billion) to mitigate the impact of the outbreak on businesses and individuals. Thailand is also contending with a severe drought and feeling the effects of delayed outlays from the regular fiscal-year budget because of earlier political wrangling. The Bank of Thailand predicts a 5.3% economic contraction in 2020, which would be the bleakest performance since the Asian financial crisis. Thailand is also contending with a severe drought and feeling the effects of delayed outlays from the regular fiscal-year budget because of earlier political wrangling. The Bank of Thailand predicts a 5.3% economic contraction in 2020, which would be the bleakest performance since the Asian financial crisis. https://www.msn.com/en-us/finance/markets/thailand-plans-more-stimulus-monetary-policy-flexibility/ar-BB126Waf ================================================================================== From Bangkok Post Tourism Council wants shutdown, relaxed lending The Tourism Council of Thailand (TCT) has submitted a letter to Prime Minister Prayut Chan-o-cha asking for more relaxed regulations on lending from banks, and another to Bangkok governor Aswin Khwanmuang demanding an official order shutting down tourist facilities in the city. In a letter to the city governor, they asked that he shut down hotels, tour agencies and tourist bus services. They asked him to issue a temporary closure order for hotels which do not have guests. This would help reduce travel activities and comply with travel restrictions imposed earlier by the government. Five provinces have already ordered hotels to shut down. The latest were Phuket, which the governor ordered on Thursday night, and Phangnga, which demanded all hotels stop services as soon as the last batch of guests check out. Three provinces previously issued hotel closures: Chon Buri, Kanchanaburi, and Chanthaburi. https://www.bangkokpost.com/business/1892550/tourism-council-wants-shutdown-relaxed-lending#cxrecs_s Quote
