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Sunday, June 23, 2024

PM Srettha defends Paetongtarn’s criticism of the central bank

Prime Minister Srettha Thavisin has come to the defence of Pheu Thai party leader Paetongtarn Shinawatra over her harsh criticism of the Bank of Thailand. She had claimed that the bank’s independence poses an obstacle to the government’s efforts to drive economic recovery.

Paetongtarn’s criticism, which featured in her address to party members yesterday, immediately drew flak from several quarters, among them former Democrat MP Nipit Intarasombut, former red-shirt leader Jatuporn Promphan and Chirmsak Pinthong.

PM Srettha said today that Paetongtarn was merely reflecting the grievances of the public and the business sector over high interest rates, because the central bank has declined to cut the 2.5% policy rate by 25 basis points, as the government wants.

He said that, privately, he understands the need for the independence of the central bank and still hopes that they can…

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