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FTI hopes for further cut in policy interest rate to tame strong Baht

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webfact
in Thailand News - Discussion

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FTI hopes for further cut in policy interest rate to tame strong Baht

 

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The Federation of Thai Industries (FTI) is hoping that the Monetary Policy Committee of the Bank of Thailand will make another cut in the policy interest rate, currently set at 1.5%, to prevent the baht currency from strengthening further.

 

FTI vice president Mr. Kriangkrai Thiennukul said today that the FTI is seriously concerned that several factors, including the strengthening of the Thai currency to one of the strongest in the region, will worsen the economic slowdown in both the short and long term.

 

He pointed out that the baht fluctuated between 30.40-30.50 baht/US$ last week and reached the highest level against the US$ in six years. The Thai currency has strengthened by 6% against the US greenback since the beginning of this year, making it stronger than other currencies in the region.

 

Full story: https://www.thaipbsworld.com/fti-hopes-for-further-cut-in-policy-interest-rate-to-tame-strong-baht/

 

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