BOT prepared for any dip in economy, says governor

By Wichit Chaitrong 
The Nation

 

 

The Bank of Thailand is ready to act if the economy slows down sharply, Central Bank governor Veerathai Santiprabhob said on Thursday, while some analysts worry a stronger baht will hurt the economy.

 

Speaking to a group of analysts on the monetary policy and economic situation, Veerathai said the current policy rate at 1.75 per cent is accommodative to economic growth which is expected to expand 4 per cent this year.

 

“If the economic growth is sharply slower, then the central bank has tools to address it,” he said.

 

Although the global economy is slowing down, unemployment rates in the US and Europe remain low and the US economy is still creating new jobs, he said.

 

Many analysts, however, have expressed concern that a stronger baht would hurt Thailand's exports. They also want the central bank to give a clear signal it will slow down the pace of rate hikes in the future after the BOT raised the rate in December last year. They feared that further rate hikes would deepen the economic slowdown.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30361981

 

-- © Copyright The Nation 2019-01-10

His rope already noosed, unless he has the confidence of Job.

How about a free, open and competitive market?

 

Allow it to be.

5 minutes ago, zzaa09 said:

How about a free, open and competitive market?

 

Allow it to be.

Thailand is just too expensive for the low quality if sells everywhere. It needs more big companies who compete on pricelevel to fight for customers. And all those small shops should make place for large ones or the whole country will suffer hard from it because the rest of the world develops nonstop.

Local logic...…..when the economy slumps or tourist numbers are down, just increase prices to cover the shortfall...…..pretty smart these people!

The high Baht helps no one except those exporting Baht and then converting it to a foreign currency for banking in Switzerland. 

2 hours ago, webfact said:

“If the economic growth is sharply slower, then the central bank has tools to address it,” he said.

A set of spanners and couple screwdrivers ,maybe a hammer 

regards worgeordie

1 hour ago, Snow Leopard said:

The high Baht helps no one except those exporting Baht and then converting it to a foreign currency for banking in Switzerland. 

It's not the high baht, but the low European currencies.

1 minute ago, the guest said:

It's not the high baht, but the low European currencies.

I think you missed my meaning. 

26 minutes ago, the guest said:

It's not the high baht, but the low European currencies.

If Thailand was smart they would print more Bahts and use them to upgrade the standards in the country...like making life more pleasant....build more parks, better beaches, better transport, stop floodings/droughts, real police, start large companies which work nationwide, safer roads and so on.....

A troll post has been removed. 

Easy.

New design of 1000 baht note and for each three printed only take one of the older ones off the market.

Edited January 10, 20197 yr by overherebc

"Iceberg ? What iceberg ?"

17 hours ago, fruitman said:

If Thailand was smart they would print more Bahts and use them to upgrade the standards in the country...like making life more pleasant....build more parks, better beaches, better transport, stop floodings/droughts, real police, start large companies which work nationwide, safer roads and so on.....

 

You are making the classic mistake of defaulting to common sense and reason. And assuming those in power have vision, which they do not possess. There are countless things the administration could be doing to improve the lives of the average Thai. But that would require them to care. Which they do not. They are here to protect the elite, the super wealthy, those that are connected, and those in power. They are not here to address the problems of the common man and woman. And they absolutely refuse to do that, on any level. Think of public and traffic safety. What have they done in the past four year to improve that area? Think of tourism, which is something that benefits alot of average Thais. They have sabotaged tourism on so many levels, continued to appeal to the low to no baht Chinese package tour tourists, and continued to discourage Western tourists on many levels, and the result has brought devastation to the tourism industry, and hardship to millions of Thais. This has been the worst peak season in memory. Many other nations are at full occupancy. Thailand is down 20-30%. Does the government care? Does Prayuth care? Not one iota. That much is certain.

 

To Prayuth and the army, I say get out now. You are not needed. You are not wanted. You are despised by the masses. 

Edited January 11, 20197 yr by spidermike007