Finance Minister insists on not interfering with the Bank of Thailand to manage the currency and set the interest rate policy : InfoQuest

Arkhom Termpittayapaisith, the Minister of Finance, said that the Ministry of Finance has discussed with the Bank of Thailand (BOT) to monitor the economic situation closely. and there was a change of opinion on every issue. Both raise the interest rate policy of the US Federal Reserve (Fed) problems extending the Russia-Ukraine war. and the devaluation situation of the baht by admitting that the baht has in fact depreciated but did not order anything special. Because it is the duty of the Bank of Thailand, the BOT believes that it will monitor the growth of the Thai economy as normally as possible.

In terms of the effect on the price of oil from imports, not much is considered because the price of oil is not very volatile. The median is 90-95 dollars per barrel, still below 100 dollars per barrel. be considered a good level but still have to follow because in a few months it will be winter Where the European side will use more energy. So we have to see if the price of oil will fluctuate again or not.

“Will the Fed raise interest rates by 0.75% affect the Thai economy or not? Please confirm that the Treasury and the Bank of Thailand have closely monitored Because the economy is moving all the time. impact of the global economy Energy prices and war stories As for Thailand, will you have to raise the policy rate accordingly or not? It is the decision of the Bank of Thailand. “ Mr. Arkhom said

Mr Arkhom added that when raising interest rates of all central banks, including Thailand, three key factors must be considered: 1. Will raising interest rates help reduce inflation and is it necessary to raise interest rates to Reduce Inflation 2. Raising interest rates should not affect economic expansion. Because in the past, the Bank of Thailand wanted to take care of the Thai economy to restore back to normal as soon as possible, and 3. The interest rate hike must look at capital outflow But in the past it was seen that some capital outflow. but not much and still not significant

In addition, the Fed’s policy rate increase Everyone already knows the goal to reduce inflation. because of the US economy It is clear that there is a tendency to hot expansion. So he has to raise interest rates to cool the economy by 0.75% 3 times in a row. That is more than half of the Fed’s target of raising interest rates to 4-4.5% from the current 3-3.25%.

At the same time, the United States has reduced the rate of economic growth considerably. cause concerns that the US economy Going into recession, the US has to raise interest rates to allow the economy to slow down. It is better than letting the economy go into recession. As a result, the interest rate policy was applied intensively. This is normal for all countries to follow. Actions of the United States and the world, including Thailand. As for which country’s central bank will raise interest rates? It depends on the economic recovery of each country.

Mr Arkhom said that the Ministry of Finance is still confident that the Thai economy in 65 will grow at 3-3.5%, which is considered a good level. and probably can This was due to exports benefiting from the depreciation of the baht. and the recovery of the tourism sector The goal is to have 8 million foreign tourists this year, which is believed to be able to reach the goal. From now on that 5 million foreign tourists come into Thailand, if the rest of the time With 1 million more people coming in every month, they will definitely achieve their goals.

By InfoQuest News Agency (22 Sep 65)

Tags: Ministry of Finance , Federal Reserve Bank of Thailand , Bank of Thailand , Bank of Thailand , Ukraine , Russia , Termpittayapaisith Hud , Fed , world economy , Thai economy

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