ID :
194802
Wed, 07/13/2011 - 13:27
Auther :
Shortlink :
http://m.oananews.org//node/194802
The shortlink copeid
BOT raises key interest rate by further 0.25%
BANGKOK, July 13 (TNA) - The Bank of Thailand (BOT) has raised its key interest rate, the repurchase (RP) rate, by further 0.25 per cent annually, from 3 per cent to 3.25 per cent, with immediate effect.
BOT Assistant Governor for Monetary Policy Paiboon Kittisrikangwan said that the new move was a resolution of the central bank's Monetary Policy Committee (MPC) meeting Wednesday, aimed to contain rising inflation amid growing demand and to maintain Thailand's economic stability.
Paiboon acknowledged although the Thai government has extended its measures to subsidize people’s costs of living, namely free bus and train services, proposed plans of the incoming administration, led by the majority-elected Pheu Thai Party, to raise minimum wages to 300 baht daily and to spend on several other projects are boosting prices of goods and services, including energy and ready-to-eat food, and spurring inflation.
Meanwhile, the MPC reported that the Thai economy continued to expand well in the second quarter of this year, cushioned by growing domestic demand and Thai exports, as well as recovering overseas economies, especially those of major industrialized countries like the United States, Japan and the European nations (EU).
The BOT assistance governor said he believes that the new Thai government will keep a balance of both its financial and fiscal policies, noting that, traditionally, the central bank discussed annual policies related to inflation with the Thai finance minister. (TNA)
BOT Assistant Governor for Monetary Policy Paiboon Kittisrikangwan said that the new move was a resolution of the central bank's Monetary Policy Committee (MPC) meeting Wednesday, aimed to contain rising inflation amid growing demand and to maintain Thailand's economic stability.
Paiboon acknowledged although the Thai government has extended its measures to subsidize people’s costs of living, namely free bus and train services, proposed plans of the incoming administration, led by the majority-elected Pheu Thai Party, to raise minimum wages to 300 baht daily and to spend on several other projects are boosting prices of goods and services, including energy and ready-to-eat food, and spurring inflation.
Meanwhile, the MPC reported that the Thai economy continued to expand well in the second quarter of this year, cushioned by growing domestic demand and Thai exports, as well as recovering overseas economies, especially those of major industrialized countries like the United States, Japan and the European nations (EU).
The BOT assistance governor said he believes that the new Thai government will keep a balance of both its financial and fiscal policies, noting that, traditionally, the central bank discussed annual policies related to inflation with the Thai finance minister. (TNA)
