2024-02-26 08:16:00
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26 Feb. 2024 3:16 p.m.
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“Thitiwat” Deputy Secretary-General to the Prime Minister for Political Affairs is concerned about the interest rate measure and advises the Bank of Thailand to revise it to suit the current economic situation. Driving the growth of the Thai economy Reduce the cost burden for entrepreneurs and consumers.
February 26, 2024 Mr. Thitiwat Adisornphankul Deputy Secretary to the Prime Minister for Political Affairs Gave an interview about his concerns about the current interest rate measures. This affects the costs of entrepreneurs and citizens who have obligations with various financial institutions. It can be seen that ever since Thailand was faced with the COVID-19 outbreak situation. The Bank of Thailand (BoT) has raised interest rates 8 times from the policy interest rate of 0.50%. Most recently, the policy interest rate was at 2.50%, causing it to be noted that Is the interest rate measure still appropriate for Thailand’s current economic situation?
Mr. Thitiwat further stated that the Consumer Price Index of Thailand in January 2024 was at 106.98 compared to January 2023 at 108.18, resulting in general inflation decreasing by 1.11 percent (YoY), decreasing further. This is the 4th month in a row and the lowest in 35 months. This decline in inflation It reflects the purchasing power of consumers that has decreased. It also affected the consumer confidence index which decreased as well. Compared to December 2023, it was at the level of 54.8, while in January 2024 it was at the level of 54.5. The continued decline of the Thai Consumer Price Index is still an important question and a concern for the current interest rate measures.
Deputy Secretary to the Prime Minister for Political Affairs Emphasize at the end that Determining interest measures that are appropriate to the current economic situation It is absolutely necessary to drive the growth of the Thai economy. Financial measures that facilitate liquidity enhancement It is still another important factor in reducing the cost burden for entrepreneurs and consumers.
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