Cooler heads prevail on interest rate
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Re: "Govt eases calls for action on baht", Business, April 27.
News of Finance Minister Kittiratt Na-Ranong backing down from his insistence that the country’s interest rate be lowered by the Bank of Thailand is like a student becoming more responsible in his homework.
In the same story, Finance permanent secretary Areepong Bhoocha-oom said the ministry will use other measures, such as stopping the issuing of inflation-linked bonds, and collecting taxes and fees, in order to stem the ongoing inflow of foreign money and thus the appreciation of the baht. To cut the interest rate is not yet necessary.
Finally, our finance officials have regained their equanimity.
Vint Chavala
Lamphun
