Kittiratt adds pressure | Bangkok Post: business

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Kittiratt adds pressure

Letter sent to MPC suggesting rate cut

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The government has stepped up calls for the Monetary Policy Committee (MPC) to reduce the policy interest rate and ease pressure on foreign capital inflows and the baht. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong sent an official letter to a meeting of the Bank of Thailand's board last week requesting it resolve its operating losses by reducing the rate.

The letter reaffirmed the government's ongoing call. It believes a lower rate would ease foreign capital inflows, a major cause for the baht run-up in the first two weeks of this year.

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