Bank of Thailand chief sees no pressure to raise interest rates

Bank of Thailand chief sees no pressure to raise interest rates

Bank of Thailand governor Veerathai Santiprabhob:
Bank of Thailand governor Veerathai Santiprabhob: "Thailand is not under imminent pressure to increase our policy rate". (Bangkok Post file photo)

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.


Do you like the content of this article?
COMMENT (4)

Snared baby elephant released after treatment

A baby elephant injured by falling into a trap in Chanthaburi has been rescued.

29 Nov 2021

Hong Kong records 3rd case of Omicron variant found in southern Africa

HONG KONG: Hong Kong has recorded its third case of a heavily mutated coronavirus strain discovered in southern Africa, health officials said on Monday, amid international concerns that the new variant could drive a new wave of transmissions.

29 Nov 2021

Philippines launches mass vaccination drive on spectre of Omicron

MANILA: The Philippines launched on Monday an ambitious drive to vaccinate nine million people against Covid-19 in three days, deploying security forces and thousands of volunteers in a programme made urgent by the threats of the Omicron variant.

29 Nov 2021