Thai Chamber of Commerce chairman Sanan Angubolkul said the 2.25% policy rate is suitable for the Thai economy. — Reuters
BANGKOK: The Thai private sector believes the Bank of Thailand’s cutting of the policy rate by 25 basis points, from 2.50% to 2.25% per annum, is well suited to the country’s current economic situation and will help several sectors, notably exports and tourism.
In a bid to help reduce the public’s debt burden, the central bank’s Monetary Policy Committee (MPC) voted 5:2 on Wednesday to lower the key policy rate with immediate effect after over a year of holding the rate at 2.50%.
Thai Chamber of Commerce chairman Sanan Angubolkul said the 2.25% policy rate is suitable for the Thai economy and would help prevent the baht from becoming too strong against foreign currency.
This will help boost the competitiveness of the export and tourism sectors, he said.Thai National Shippers’ Council president Chaicharn Charoensuk said the move to cut the interest rate was expected, but he thanked the MPC anyway for eventually implementing it. — The Nation/ANN
