Finance Minister Pichai Chunhavajira speaks during an event held to announce a joint venture asset-management company between the Government Savings Bank and Bangkok Commercial Asset Management, on Wednesday in Bangkok. (Photo: Bloomberg)SINGAPORE - Thailand’s new finance minister has caught investor attention with a more conciliatory approach to the central bank, opening a window for policy coordination to support the country’s battered markets. “I think he (Pichai) certainly understands the culture of the people at the Bank of Thailand,” former finance minister Thirachai Phuvanatnaranubala told the Reuters Global Markets Forum last week. Last month the Ministry of Finance cut its growth target to 2.4% from 2.8% previously. Domestic banks last month cut lending rates by 25 basis points for vulnerable groups for a period of six months, following a plea from the prime minister.

Source: Bangkok Post May 29, 2024 23:34 UTC