The Financial Consumer Protection Center (FCC) reported statistics of  Bank system failure in the 3rd quarter of 2022, it has shown that TTBThanachart (TTB) was failure 6 times, spending 46 hours Siam Commercial Bank (SCB) was failure 6 times, spending 6 hours UOB Bank (UOB) was failure 1 time, spending 2 hours Krungthai (KTB), Krungsri (BAY), CITI Bank (CITI), CIMB, and TISCO were failure 1 time, spending 1 hour           From these issues, the BOT arranged criteria to control mobile bank applications not crashing more than 8.7 hours/year to increase comfort and confidence, and reduce system stumble because people tend to pay via bank applications or Prompt pay more than before, as well as a cashless society. However, the BOT is preparing and considering punishment and guidelines while bank applications crash. After the BOT was announced, all banks must accept BOT’s condition.           For Service Level Agreement (SLA) stated the condition that the crashing time of bank application should not exceed 8.7 hours/year which is the time

          The Thai official data reported on 07/11/2022 that the consumer price index rose 5.98% in October from a year earlier, contributing to the average inflation rate from January to October increasing 6.15% from a year earlier. Meanwhile, the Core CPI in October rose by 3.17% from a year earlier.           Poonpong Naiyanapakorn, deputy permanent secretary of commerce mentioned that Thai inflation in October rose by 5.98%, its deceleration continuously for 2 months, and Thai inflation in November and December was expected to slow down. Inflation was slowed down because the prices of goods and services have changed by the following; 187 categories, the prices surged such as fuel, gas, and electricity bills 79 categories, the prices dropped such as bananas, and televisions 164 categories, the prices unchanged such as trainers, train fare           However, Thai inflation still seems to risk of rising from the high energy cost, the weak baht, and rising domestic demand. Moreover, the Ministry of Commerce forecasted that Thai inflation in 2022 will be

          On 26 October 2022, Bloomberg reported that the economy of China was in recession in October, as the decreasing sales number of automobiles and properties, even world trade and the confidence of small businesses was shrunk which means the activities in September didn’t enough China economy to be recovered.           After the government released Covid Zero measures that affect the economy, especially the confidence of small businesses shrunk for the first time this month since May, meanwhile the demand in China including residence as well as catering declined to the lowest level since February 2020 and May 2020 respectively. Hereafter, Reuters reported that Chinese state banks sold the US. dollars in both onshore and offshore markets to handle gently the weakening yuan. This action reflected that the US. dollars appreciated and the concern in the economy of China was slowing down           Nonetheless, the Chinese economic trend continuously recovered but was interrupted by the lockdown and covid-19 measures in China. The decrease in the property sector and

          On 11 October 2022, the International Monetary Fund (IMF) reported that the world economy would be in a recession and the global GDP forecast decreasing from 2.9% to 2.7%. The key factors affecting the global GDP are Russia invaded Ukraine, COVID-19, soaring costs, and high-interest rates to reduce the inflation rate.           Meanwhile, the IMF has cut forecasts for the 2 biggest economies, the US and China. The US economic growth will reduce by 1.6% that below the expectation, the cause is FED has hiked the interest rate aggressively to control the inflation rate in the US, furthermore, FED will continuously increase the interest rate.           China’s economic growth this year is 3.2% that lower than initially forecast, and the following year will increase by 4.2%, as strict Covid curbs and a crisis in the property sector tend to slow down driving China’s economic growth slower than expected. For all that, the IMF was concerned with the developed country’s economic deceleration, currency depreciation in developing countries, and

          From the report on 28 September 2022, the monetary committee voted to raise the interest rate by 0.25%, increasing from 0.75% to 1.00%. The factor driving to increase in interest rate in Thailand is the FED announcement to raise the interest rate by 0.75%, reaching 3.25%, this cause-effect USD to be appreciated and other currencies to depreciate.           Nonetheless, BOT governor, Sethaput Suthiwartnarueput, told reporters that the Bank of Thailand has been following up on the situation of the Thai Baht, and promptly acted on excessive moves, meanwhile they didn’t apply the policy to regulate the exchange rate and Thailand has learned from the economic crisis in 1997.           Moreover, this year’s Thai economy will continue to recover from consumers and tourists, for the export will be affected by the economy’s world recession. The bank of Thailand forecasts economic growth in 2022 to be 3.3%, and in 2023 to grow at 3.8%, which means the economy of Thailand will be recovered slowly more than expected. Meanwhile, the