Post by account_disabled on Jan 8, 2024 5:25:17 GMT -5
Mr. Suphan Mongkolsuthi, Chairman of the Federation of Thai Industries (FTI), revealed that the Federation of Thai Industries wants The Bank of Thailand (BoT) opened a special meeting of the Monetary Policy Committee (MPC) to consider cutting the policy interest rate by at least 0.25% in order to slow down the rapid appreciation of the baht. Because at this time the movement of the Thai baht currency has strengthened a lot. It is considered that if the MPC lowers the interest rate, It will slow down the flow of capital. It does not cause the baht to appreciate quickly.
“Right now the private sector is very worried Phone Number List about the appreciation of the baht. Because it appreciates very quickly And there is information from many economic research centers and financial institutions. Came out to give the same information that The value of the Thai baht There is a chance of appreciation and falling below 30 baht per US dollar. And there is a chance of continued appreciation until 2020 because Thailand is still a country with safe assets and the dollar is weak. If the Federal Reserve or the Fed cuts interest rates This makes the US dollar depreciate. As a result, the baht strengthens.
If it gets to that point, you can tell Thailand's export sector. It will be even more difficult and definitely negative. From now on, it is already affected by the China-US trade war. In the end, it will definitely affect the overall Thai economy. Therefore, I want the BoT to urgently take care of this matter,” Mr. Suphan said. Mr. Suwanchai Lohawattanakul, Director of the Office of Small and Medium Enterprises (OSMEP), said that the baht has strengthened quite a lot during this period. Fluctuations in the baht affect small and medium-sized enterprise operators.
“Right now the private sector is very worried Phone Number List about the appreciation of the baht. Because it appreciates very quickly And there is information from many economic research centers and financial institutions. Came out to give the same information that The value of the Thai baht There is a chance of appreciation and falling below 30 baht per US dollar. And there is a chance of continued appreciation until 2020 because Thailand is still a country with safe assets and the dollar is weak. If the Federal Reserve or the Fed cuts interest rates This makes the US dollar depreciate. As a result, the baht strengthens.
If it gets to that point, you can tell Thailand's export sector. It will be even more difficult and definitely negative. From now on, it is already affected by the China-US trade war. In the end, it will definitely affect the overall Thai economy. Therefore, I want the BoT to urgently take care of this matter,” Mr. Suphan said. Mr. Suwanchai Lohawattanakul, Director of the Office of Small and Medium Enterprises (OSMEP), said that the baht has strengthened quite a lot during this period. Fluctuations in the baht affect small and medium-sized enterprise operators.