Bank of Thailand Governor Sethaput Suthiwartnarueput sees no need for an emergency meeting to cut interest rates, reiterating that the problems weighing on the domestic economy won’t be solved by reversing monetary policy.
He made the remarks in an interview with Nikkei after Prime Minister Srettha Thavisin sought an urgent rate cut from the central bank to help boost demand in an economy struggling with growth below 2% a year.
“If we lower rates, it’s not going to make Chinese tourists spend more, or cause Chinese firms to import more petrochemicals from Thailand, or cause the government to disburse the budget more rapidly, and those are the three main factors that underlie the slow growth,” Mr Sethaput…
