Rate cut too low and too late: Kittiratt
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Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said that the policy rate cut of 25 basis points is too low and came too late.
"It's better late than never, though," he told reporters today, after the Bank of Thailand cut the policy rate to 2.5 per cent, with immediate effect.
He is convinced that the rate cut would halt further appreciation in the Thai baht in the short term. The authorities would need to monitor the situation in the long term. He promised to work with the Bank of Thailand in slowing the baht appreciation.
