- October 6, 2023
- Posted by: admin
- Category: Daily News
- At the heart of the tensions is Srettha’s plan to turbo-charge Southeast Asia’s second-largest economy by ramping up spending, subsidies and wages — the centerpiece of which is a $15 billion cash handout program. Bank of Thailand Governor Sethaput Suthiwartnarueput has called such spending “inappropriate.”
- Just days before meeting the prime minister, the central bank raised interest rates to the highest level since 2013 as a preemptive action to ward off inflation pressure partly from the stimulus.
- A day after the meeting, Srettha signaled a preference for a weak currency to help exports and tourism — the bedrocks of Thailand’s economy. Hours later, the BOT said it would intervene to curb extreme currency volatility.