BANGKOK, Mar 12: Thailand’s looser monetary policy is good for exports as it helps hold the baht down, making exports more competitive, a deputy prime minister said on Thursday, as the military government tries to revive the struggling economy. On Wednesday, the central bank’s monetary policy committee unexpectedly voted 4-3 to cut the policy interest rate by 25 basis points to 1.75 percent, its first rate change in a year to shore up confidence.
‘Lower interest rates will help cap the baht’s rise, which is most wanted. A weaker baht will help exports,’ Deputy Prime Minister Pridiyathorn Devakula told reporters. He said the economy was still expected to grow 4 percent this year after 0.7 percent growth in 2014.
(AGENCIES)
Follow our WhatsApp channel