Arab Today, arab today bank of thailand opposes baht policy
Last Updated : GMT 21:07:11
Arab Today, arab today
Arab Today, arab today

Bank of Thailand opposes baht policy

Arab Today, arab today

Arab Today, arab today Bank of Thailand opposes baht policy

Bangkok - Xinhua

Bank of Thailand (BOT) governor Prasarn Rairatvorukul said on Thursday that he disagrees with the policy to weaken the value of the baht signaled by Finance Minister Kittirat Na-Ranong. BOT governor made the remarks in reference to Kittirat\'s comment on Wednesday that the Finance Ministry wanted a weaker baht and that the Central Bank should lower its current 3 percent key policy rate in order to stimulate the economy. Prasarn said he disagreed with devaluing the baht because it was BoT policy to use a managed float to control the exchange rate, a method that allows the baht value to be flexible in line with the money market mechanism. The governor also affirmed that the Central Bank\'s key policy rate of 3 percent is a suitable level for supporting economic recovery.  

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