Bank of Thailand chief sees no pressure to raise interest rates
published : 12 Oct 2018 at 15:51
NUSA DUA, Indonesia: Thailand's economy is not under "imminent" pressure to raise interest rates, Bank of Thailand governor Veerathai Santiprabhob said on Friday.
"I think Thailand is not under imminent pressure to increase our policy rate and if you look at the policy rate, at 1.5%, it has been below the Fed Funds Rate," he told an economic forum on the sidelines of the International Monetary Fund and World Bank meetings in the Indonesian resort island of Bali.
Unlike some emerging markets, Thailand has seen capital inflows that kept its baht relatively stronger than other emerging Asian currencies and enabled the central bank to keep a "certain degree of monetary policy autonomy" while the United States raised interest rates, he said.
