TCC wants capital flow controls

Business > Economics

Published: 9/09/2010 at 04:10 PM
Online news: Local News

The new governor of the Bank of Thailand Prasarn Trairatvorakul should introduce measures to curb foreign capital inflow to stabilise the value of Thai baht, vice chairman of the Thai Chamber of Commerce Pongsak Assasakul said on Thursday afternoon.

The new BoT chief should also delay a plan by the Monetary Policy Committee to further raise the repurchase rate, to prevent profit speculation on the baht’s value, he said.

Since the beginning of the year the Thai baht has strengthened by about six per cent, he said. The Thai currency strengthened about 1.8 per cent in August.

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McG

Discussion 2 : 10/09/2010 at 12:45 AM2
Last time the BOT introduced capital curbs a few years ago...the SET went down horrifically in a matter of days. Literally trillions of THB in market worth evaporated. Took years to recover....oh, after the gov't removed the capital controls.

Are memories really that short?

I can't wait to see what havoc these bozos will wreak now with this talk.
Geminia

Discussion 1 : 09/09/2010 at 11:19 PM1
If the appreciation of the baht is slowing exports then why are we at historic high rates of export growth. If exports slow, then you must curb the baht. If not, then only an idiot would put in curbs. With a cheaper baht, domestic inflation would rise as export demand would pressure domestic prices. Follow the PM's advice if you want to help the country. Don't curb and don't block capitol inflows.

TCC wants capital flow controls | Bangkok Post: business