Thai industry wants immediate 0.5% reduction in policy rate | Bangkok Post: news

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Industry group wants policy rate cut

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The central bank’s monetary policy committee should cut the repurchase rate from 2.75% to 2.25% at its meeting on Wednesday, Payungsak Chartsuthipol, chairman of the Federation of Thai Industries (FTI), said on Tuesday. 

The policy rate reduction would help stabilise the value of the baht and boost economic expansion. The inflation rate now is not too high and should not be a cause of concern, said Mr Payungsak.

The FTI chief believed an RP rate cut of 0.5 percentage points would be better than leaving it unchanged at 2.75%, because the global economic slowdown is continuing.

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