Thailand can't buck global policy tightening trend - central bank chief

 

FILE PHOTO: Thailand’s Central Bank Governor Veerathai Santiprabhob is seen during an interview with Reuters at the Bank of Thailand headquarters in Bangkok, Thailand March 14, 2018. REUTERS/Jorge Silva/File Photo

 

BANGKOK (Reuters) - Thailand cannot buck global policy tightening trend but any interest rate hike will be gradual, its central bank governor said on Monday.

 

The need to continue "very accommodative" monetary policy is lessening, but the timing of a rate hike will be decided by the monetary policy committee (MPC), Bank of Thailand Governor Veerathai Santiprabhob told reporters.

 

"When the economy is clearly recovering, the need for very monetary policy is reducing," he said. "But even there will be some rate hikes going forward ... it will continue to be accommodative monetary policy," he said.

 

The MPC has left Thailand's benchmark interest rate <THCBIR=ECI> unchanged at 1.50 percent, near record lows, since April 2015.

 

It will next review policy on Sept. 19.

 

-- © Copyright Reuters 2018-8-20

What Recovery? Everyone everywhere is sinking deeper... Wait!  I forgot,  he's a 1 percenter.

The global economy meanwhile, is on a tightrope,  balancing Greece (which never did get fixed) Turkey, Chinas construction  bubble, the Deutscher bank mess, the Republicans trade war,  Brexit aka the great British balls-up, US debt at near meaningless strings of zeros -did I miss anything? 

Edited August 20, 20187 yr by Small Joke

14 hours ago, snoop1130 said:

"But even there will be some rate hikes going forward

The government doesn't believe this.

Aug. 6th - Finance Minister Apisak Tantivorawong told Reuters Thailand had no need to raise interest rates this year as capital outflows were not a worry and a weak baht <THB=TH> was good for its exports.

 

Thai central bank seen holding key rate again as inflation benign - Reuters Poll :

In the Reuters poll, nine of the 17 analysts who gave a longer-term view predicted no policy rate change the rest of 2018, while eight saw increases, starting from September.

https://www.thaivisa.com/forum/topic/1051576-thai-central-bank-seen-holding-key-rate-again-as-inflation-benign-reuters-poll/?utm_source=newsletter-20180807-0628&utm_medium=email&utm_campaign=news

 

10 hours ago, Small Joke said:

What Recovery? Everyone everywhere is sinking deeper... Wait!  I forgot,  he's a 1 percenter.

Exactly!

Tighten already ! I want some more interest on my mandatory 800K.