PM urges MPC to call a special meeting to review policy rate

[snoop1130]

 

Prime Minister Srettha Thavisin has urged the Monetary Policy Committee (MPC) to call a special meeting to review its decision to maintain the policy rate at 2.5%, without waiting until its next scheduled meeting on April 10.

 

In his “X” post on Monday night, the prime minister said that the economic performance figures released by the National Economic and Social Development Council (NESDC) clearly show that the Thai economy is at a critical stage and the NESDC secretary-general agreed that it is time for a review of the policy rate.

 

Speaking to the media yesterday, following the release of the NESDC report on the Thai economic situation for the fourth quarter of last year, which projects that GDP growth for last year will be just 1.9%, the prime minister said that it is time to cut the policy rate by at least 25 basis points, to 2.25%, which will help ease the financial burden on people.

 

Caption: File photo : PM Srettha Thavisin/PM’s X

 

Full story: Thai PBS 2024-02-20

 

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[Banana7]

BOT should hold the meeting and increase the rate to at least 3%. Then let's hear the PM scream!

 

If the rate is lowered, the baht will depreciate against euro and USD. Maybe we will see 38-40 baht to USD by June, if they lower the interest rate.

 

[retarius]

Doubly stupid by the PM. The central bank needs to be independent not a tool of government for political uses. 

[hotchilli]

Don't fear the economic wizard Thaksin will come to the rescue.

[Srikcir]

13 hours ago, snoop1130 said:

the Thai economy is at a critical stage and the NESDC secretary-general agreed that it is time for a review of the policy rate

Translation:

The government is clueless on producing successful economic policies that are almost ten years too late (8 years Prayut and 1+ PTP) and begs MPC to bail the government out with SOMETHING to take responsibility.

Note - the MPC does not legislate.

[bamnutsak]

His lack of experience, cluelessness, and naivete were funny at the beginning.

 

Now it's getting dangerous with him anywhere near the government.

 

His comments the past few days on the economy border on irresponsible.

 

At the very least he should appoint a well-respected Minister of Finance.

 

 

 

 

[nobodysfriend]

14 hours ago, snoop1130 said:

Prime Minister Srettha Thavisin   ...

 

... is a real estate tycoon . He makes a living from selling condos , houses etc ... Her wants to sell more , so he pressures the banks to further lower the already very low interest rates that more potential buyers get easy affordable credit rates and he can sell more .