The government has been pushing the Bank of Thailand for months to cut interest rates. Even if the central bank cuts the rate, any reduction would be gradual and have a minimal impact on pumping up the economy, said Mr Kiatanantha. He said removal of the central bank governor could occur if his policies or mistakes caused a severe impact to the economy. BMI, a unit of New York-based Fitch Solutions, said rate cuts will do little to alleviate the current Thai economic issues. Amonthep Chawla, chief economist at CIMB Thai Bank, reiterated the importance of the central bank maintaining independence from political influence.

Source: Bangkok Post May 08, 2024 09:34 UTC