Bank of Thailand advised to cut interest rates

enews.mcot.net — Citing fears of a possible Thai economic recession due to global downturn, members of the Thai private sector urged the Bank of Thailand (BoT) to further lower interest rates. Federation of Thai Industries president Santi Vilassakdanont expressed grave concern over the outlook of the Thai economy in 2009, as it must battle both global recession and domestic political crisis which erodes consumer and investor confidence. Mr. Santi said the economic stimulus planned by the government are good but not adequate, in light of the fact that consumption and investment still show signs of sliding. To enable Thailand to ride out of the storm, Mr. Santi said the Bank of Thailand should cut interest rates by at least another 0.5 per cent to complement other economic stimuli.

add a comment | category: Business | Views: 0 | Get KickIt image code