1. Thai Rice Exporters Association said Thai rice exports are expected to reach 11mn tons, up from the previous expectation of 10mn tons. It expects rice exports to grow throughout 2H18 because Indonesia is ordering 1-2mn tons more from Thailand and the Philippines plans to import more than 0.5mn tons of Thai rice. (Post Today, 29/07/18)
  2. Cabinet nod for Bt85bn double-track rail project in the North. The Cabinet on Tuesday approved the State Railways of Thailand’s Den Chai-Chiang Rai-Chiang Khong double-track rail project, at a cost of Bt85.345bn. The bidding process is expected to take place this year, after which construction of the entire route will take four years. (The Nation, 31/07/18)
  3. Trade Policy and Strategy Office announced The Consumer Price Index (CPI) rose to 1.46% YoY in July, but down by 0.05% MoM. Core Consumer Price Index (Core CPI) rose 0.79% YoY in July (IQ Biz, 01/08/18)
  4. Finance Minister proposed measures, VAT-Free and medical treatment for state welfare card holders, to the cabinet for consideration. The measures will help 11.4mn card holders to approach 30 bath treatment programs for free. The measures are expected to approve by Cabinet within 2-3 week after that Finance Ministry will coordinate with Health Ministry to explain guidelines of implementation to related hospitals. (IQ Biz, 01/08/18)
  5. Exporters Council has raised this year’s export growth to 9% from the original target of 8%, based on the assumptions that the trade war benefits Thailand and the baht does not strengthen. The Thai Nautical Council (TNSC) forecasts that Thai exports will grow 8-9% in 2018, based on THB assumption of Bt33(+/-0.5)/US$ (exchange rate was Bt33.2/US$ on August 1), after exports continued to grow in June. (IQ Biz, 02/08/18)
  6. Japan’s central bank keeps monetary policy steady. The big news out of the central bank is that it would make its policy framework more flexible for the long-term yield target. The BOJ maintained its target for the 10-year government bond yield at around 0% and the short-term interest rate target at -0.1%, however. The decision comes after speculation last week that the Bank of Japan is actively discussing changes to its policies, which caused Japanese government bond prices to fall steeply, and drove the benchmark 10-year yield to hit its highest in nearly 6 months. (CNBC, 31/07/18)
  7. Eurozone growth slows as trade tensions persist. Economic growth in the eurozone slowed in 2Q18, official data showed on Tuesday, as concerns rose that global trade tensions fueled by Washington may be reining in the European economy. Growth in the 19-country single currency bloc hit 0.3% in the April to June period, below the 0.4% in the previous quarter, the EU’s Eurostat statistics agency said. (AFP, 31/07/18)
  8. Iran rejects Trump offer of talks as ‘humiliation’, without value. Senior Iranian officials on Tuesday rejected U.S. President Donald Trump’s offer of talks without preconditions as worthless and “a humiliation” after he acted to reimpose sanctions on Tehran following his withdrawal from a landmark nuclear deal. (Reuters, 01/08/18)
  9. Fed leaves rates unchanged, stays on course for September hike. The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September. (Reuters, 02/08/18)
  10. Bank of England Raises Interest Rate to 0.75% in Surprise Unanimous Vote. The Bank of England raised its benchmark interest rate to the highest level since 2009 as Mark Carney suggested that inflation is a more imminent concern for the economy than the risk of a disorderly Brexit. (Bloomberg, 02/08/18)

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