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MPC cautious on rate change

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The Bank of Thailand's Monetary Policy Committee (MPC) will only slash policy rate if necessary, Federation of Thai Industries (FTI) chairman Payungsak Chartsutthipol predicted on Tuesday. 

The central bank will use foreign exchange and capital inflow management as the main instruments in preventing the baht from rising beyond the economic fundamentals, he told reporters after a meeting with the MPC to discuss impacts of the baht's recent appreciation.

The MPC released a statement on the meeting late last evening, saying the committee agreed "on the need for a timely implementation of appropriate policy mix as warranted by circumstances, in close coordination with the Ministry of Finance and others".

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