BANGKOK – Prime Minister Srettha Thavisin said on Tuesday afternoon after a talk with Bank of Thailand governor Setthaput Suthiwartnarueput at the Government House that he raised his views about interest rate reduction and how it might help the economy and alleviate debts.
Srettha emphasized that he is not interfering with the BoT’s decision on policy rate as the bank is an independent organisation.
The PM said the governor has briefed him that the bank is planning to solve long-term debts, and the premier added he should meet the governor more often and can drop by the BoT in the future and bring others to discuss other related matters as well.
Asked by a reporter about negative inflation and what will the BoT do, Srettha said it’s best to let the governor explain the matter.
On Sunday night, the PM posted his comment on social media that “The Bank of Thailand raised interest rate despite inflation decreasing to minus for many consecutive months, which is not good for the economy.” It also has an impact on low-income individuals and SMEs.”
There was widespread criticism after Prachachat Business reported that in 2023, the commercial banking sector achieved a total profit of more than 220 billion baht as a result of the Bank of Thailand’s increasing interest rates. Some questioned whether BoT was aware of this abnormality or not.
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