Bank of Thailand governor, Sethaput Suthiwartnarueput, stated on Friday that Thailand is not required to reduce interest rates following the Federal Reserve’s 0.5% rate cut. The governor addressed reporters, emphasizing that lowering rates would not address the country’s debt issues and dismissed the necessity for an off-cycle rate meeting. He noted the bank’s attention to monitoring borrowers’ credit risks.
Suthiwartnarueput highlighted that the baht had strengthened and become more volatile due to the dollar’s depreciation, underscoring the central bank’s vigilant monitoring of the currency. The governor emphasized the focus on the domestic economy, stating that the outlook remains intact.
Moreover, Suthiwartnarueput revealed consistent discussions on economic matters with the finance ministry to address the current economic landscape.
