FTI calls for policy rate cut
- Published: 15 Mar 2013 at 16.16
- Online news: News
The central sbank should cut the key repurchase rate by 0.5 percentage points to curb the baht’s rapid appreciation, Wallop Witanakorn, vice chairman of the Federation of Thai Industries (FTI), said on Friday.
The continued strengthening of the baht had prompted the Bank of Thailand (BoT) to intervene in the money market, Mr Wallop said.
But these measures were unlikely to enable to curb the baht's strength because as much as 28 billion baht in foreign direct investment had flowed in to buy government bonds last week.
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