(28 November)
Responding to the signs of the national economy slowing down due to waves of protests in Bangkok,
the Bank of Thailand (BOT) has agreed to lower interest rate to
2.25%.
Responding to the signs of the national economy slowing down due to waves of protests in Bangkok,
the Bank of Thailand (BOT) has agreed to lower interest rate to
2.25%.
According to Mr. Paiboon Kittisrikangwan, Secretary
General of the Monetary Policy Committee, the change was a necessary measure to the political
turmoil and the delayed public investment.
General of the Monetary Policy Committee, the change was a necessary measure to the political
turmoil and the delayed public investment.
The measure is designed to
push for future growth as the Thai economy in 2013 performed less than expected because of low
price sensitivity and a decline in internal debts, Mr. Paiboon
said.
push for future growth as the Thai economy in 2013 performed less than expected because of low
price sensitivity and a decline in internal debts, Mr. Paiboon
said.
The announcement came after the country is risking delayed
public investments and the fading confidence from private sectors regarding the political
anxiety.
public investments and the fading confidence from private sectors regarding the political
anxiety.
The BOT also announced its expectation for the kingdom’s GDP
for 2013 to stay at 3%, and 4% in 2014.
for 2013 to stay at 3%, and 4% in 2014.
