Thai central bank chief says 'very worried' about strength of baht

 

FILE PHOTO: Thailand's Central Bank Governor Veerathai Santiprabhob poses during an interview with Reuters at the Bank of Thailand headquarters in Bangkok, Thailand, April 1, 2019. REUTERS/Athit Perawongmetha/File Photo

 

BANGKOK (Reuters) - The strength of Thailand's baht is a concern for the trade-reliant economy which is expected lag the central bank's growth forecast for this year, the Bank of Thailand governor said on Monday.

 

"We are very worried about the baht," BOT Governor Veerathai Santiprabhob told a seminar in the southern province of Songkhla.

 

The baht <THB=TH> is Asia's best performing currency this year, rising 7.7% against the dollar, underpinned by the country's large current account surplus.

 

This year's economic growth is expected undershoot the central bank's forecast of 2.8%, Veerathai said.

 

-- © Copyright Reuters 2019-11-18

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5 minutes ago, snoop1130 said:

'very worried' about strength of baht

He's not alone....

Took you long enough to realize what we have all been feeling for months !

Absolutely brilliant analysis to the problem, the man  should be promoted and given a massive pay rise. 

3 minutes ago, CharlieH said:

Took you long enough to realize what we have all been feeling for months !

The only thing is, for months no one higher in government gave a toss about it. Now they do, the BOT Governor is 'very worried' - that he might lose his job.

They are out of ammo to do anything about it, and they don't want to repeat the mistakes of 1997. 

Run Forest Veerathai Run !! ????

39 minutes ago, snoop1130 said:

"We are very worried about the baht," BOT Governor Veerathai Santiprabhob told a seminar in the southern province of Songkhla.

he was just venting, he's not worried at all, if he were worried he would have made a move (depreciating the baht) long time ago, he knows tourists are less than expected, exports are slowing on a daily basis and yet the bath still very strong

Nothing will happen, the Generals and the Echelons are too busy buying assets outside of the country. Since they run everything, no incentive to change the status quo is there !

2 hours ago, snoop1130 said:

Thai central bank chief says 'very worried' about strength of baht

why didn't you take action 3 years ago ???

 

oh that's right - the corrupt powers that were running the country wouldn't let you because they put their own interests above the Thailand economy 

2 hours ago, CharlieH said:

Took you long enough to realize what we have all been feeling for months !

actually, years

2 hours ago, CharlieH said:

Took you long enough to realize what we have all been feeling for months !

Months???

Try 2 years.  ????????

18 minutes ago, smedly said:

actually, years

OK. You beat me to it.

 ????????

Thai central bank chief says 'very worried' about strength of baht

 

 

... , tell u what chief, makes at least 2 of us, damn, add to that the sharp decline in already bad dope quality ... downright devastating!!

 Nice try

they mean to exports and tourism? and consumption... by folks with their money overseas, which is not necessarily only “foreigners”.  the nominee folks, with foreign “street names”.

 

if that money continues to return... along with the obvious new trend to be as liquid.... locally where one lives.... continuing to pulsate more and more conspicuously (negative rates even at some point on Italian and Greek debt).... we could go to the teens against the dollah.  easily.

 

yeah, that’s a worry.  unless you are an everyday Thai person making 20 Baht here and 30 Baht there... and the Baht is also becoming more “real”... something you can buy stuff with.

11 hours ago, snoop1130 said:

Thai central bank chief says 'very worried' about strength of baht

Hang-wringing, hand-wringing - no action by the Central bank.  <shrug>

Don’t worry be happy.

Wonder how he explains his unqualified comments the past 1-2 years. 

Regardless... these things don't just happen. Why not just take their hands off the scales? 

12 hours ago, Artisi said:

Absolutely brilliant analysis to the problem, the man  should be promoted and given a massive pay rise. 

Already done.

We are very worried but not for ourselves unfortunately 

12 hours ago, Mavideol said:

he was just venting, he's not worried at all, if he were worried he would have made a move (depreciating the baht) long time ago, he knows tourists are less than expected, exports are slowing on a daily basis and yet the bath still very strong

Yes that would work, depreciate the currency and get smacked on the head as a currency manipulator by the US.

Finally. A hint of honesty from a Prayuth administration official. This is astonishing. 

Fact that it’s been upgraded to “very worried” is actually worrying me. It means problems are by far worse than reported, just how much worse will find out soon enough.

12 hours ago, Mavideol said:

the bath still very strong

I think you nailed it.

He needs to take a very hot "bath".

13 hours ago, snoop1130 said:

Thai central bank chief says 'very worried' about strength of baht

He finally caught on..., a spirit must have told him.

13 hours ago, Artisi said:

Absolutely brilliant analysis to the problem, the man  should be promoted and given a massive pay rise. 

He just finished economics 101 module yesterday, give him a break. LOL.

14 minutes ago, spidermike007 said:

Finally. A hint of honesty from a Prayuth administration official. This is astonishing. 

It will be labelled as FAKE news my Cha Cha

13 hours ago, CharlieH said:

Took you long enough to realize what we have all been feeling for months !

Well it has been years!!!