Picture courtesy of Ministry of Finance
Finance Minister Pichai Chunhavajira affirmed the significance of access to funding sources over lowering interest rates.
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Finance Minister Pichai Chunhavajira affirmed the significance of access to funding sources over lowering interest rates. Following discussions with Bank of Thailand Governor Sethaput Suthiwartnarueput, Pichai underscored that interest rate policy remains under the purview of the central bank’s Monetary Policy Committee (MPC), which is set to convene on October 16.
Describing the talks as comprehensive, Pichai highlighted various factors such as US and European interest rate cuts and Chinese economic stimulus measures that will influence capital inflows into Thailand. He acknowledged that while reducing domestic interest rates could ease the burden on new borrowers, loan approvals would still hinge on individual creditworthiness and repayment capacity.
Moreover, Pichai pointed out that a decrease in interest rates would result in a slight…