Bangkok Post – Central bank: Rate cuts not a quick fix for sluggish economy

Falling prices driven by government subsidies, not deflation

Thailand’s “uneven” economic recovery cannot be fixed only by adjusting interest rates, the central bank said on Monday, hitting back at the government’s calls to ease monetary policy to help revive sluggish activity.

Bank of Thailand (BoT) assistant governor Piti Disyatat said at a briefing its rates were already very low compared with global rates and that cutting them would not help an economy being battered by external factors like slowing global…