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Prasarn Says Thailand’s Benchmark Rate Good for Growth, Prices

Bank of Thailand Governor Prasarn Trairatvorakul comments on the nation’s policy interest rate. He spoke to reporters late yesterday.

The Monetary Policy Committee yesterday held its one-day bond repurchase rate at 2.75 percent, after reducing borrowing costs by a quarter of a percentage point last month.

“The interest rate at this level is quite balanced both in terms of growth and price. Inflation hasn’t accelerated and seems to be at the right level. The MPC viewed that there is no need to reduce the rate further based on the current economic data.”

Prasarn said Thailand’s interest-rate differential isn’t the only factor affecting capital movements. He said Hong Kong was an example of an economy that was attracting fund inflows even as interest rates remain low. There have been no unusual movements in the baht, he said.

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