Picture courtesy of Bank of Thailand
Thailand’s leading business group called for an urgent reduction in interest rates, reflecting growing concerns about the impact of a rapidly appreciated baht on exports.
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Thailand’s leading business group called for an urgent reduction in interest rates, reflecting growing concerns about the impact of a rapidly appreciated baht on exports.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) chairman, Sanan Angubolkul, highlighted the urgency for the Bank of Thailand (BoT) to adjust rates, aligning with the government’s repeated calls for monetary easing. Markets are anticipating a 25 basis points cut, with further reductions expected next year, said Sanan.
“The Bank of Thailand should urgently adjust rates.”
Sanan noted that the baht’s strength renders it uncompetitive for exports, a crucial growth driver.
“The strong Thai baht is causing concern in all sectors. The government can take several actions, such as boosting exports to stimulate the economy and make the most of the…