BANGKOK : Thailand’s central bank wants to continue normalising interest rates and the recent election and efforts to form a new government should have no bearing on monetary policy, a deputy governor said on Thursday.
Despite recent rate hikes, Thai interest rates are still low due to cuts during the COVID pandemic and the central bank has pledged to gradually return them to normal levels consistent with long-term economic growth prospects.
There is no need to wait and see what policies are formulated by the parties that won the May election before deciding whether or not to raise rates further, Mathee Supapongse told reporters.
The policies of all political parties are largely aimed at stimulating the economy, but the effect of monetary policy will take time to be felt, he said.
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