JSCCIB hopes BOT will lower policy interest rate
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) suggested that the Bank of Thailand adjust its policy interest rate to reflect the current economic situation.
Sanan Angubolkul, president of the Thai Chamber of Commerce who chaired the JSCCIB meeting on Wednesday, stopped short of saying the central bank should lower its policy rate from the current 2.50% per annum.
The JSCCIB believes that the policy rate was now at the highest level, he said.
“In the future, the policy rate should be adjusted in accordance with the economic situation in the country and the policy of the US Federal Reserve that is likely to lower its rate this year,” Sanan said.
The JSCCIB has members from the Thai Chamber of Commerce, the Thai Bankers Association and the Federation of Thai Industries.
Sanan said the JSCCIB also expected the country’s economy would expand within the initial projection of 2.8% to 3.3% due to the stimulus measures of the government and recovering tourism and falling inflation pressure.
