Pundits cautioned against hasty moves to cut interest rates and have emphasised the importance of an independent Bank of Thailand as it determines its policy interest rates. They warned that inconsistent fiscal and monetary policies could harm more than they help.
Therdsak Thaveeteeratham, Asia Plus Securities (ASPS) executive vice president, insisted that decisions regarding interest rates should be the sole jurisdiction of the central bank’s Monetary Policy Committee, devoid of conflicts or interference.
“The Bank of Thailand should be an independent organisation. Political interference can negatively affect public confidence in the financial system.”
Therdsak also called for fiscal and monetary policies to be consistent and reliable.
“If fiscal and monetary policies are consistent without conflict, that will make supervision of…
