“Pichai” is confident that the Ministry of Finance and the Bank of Thailand will work together to drive the economy.

"Pichai", Finance Minister, is confident that the Ministry of Finance and the Bank of Thailand will work together to drive the economy. He pointed out that they discussed the direction of the inflation framework clearly, pushing inflation to near 2%. He emphasized that during economic growth, interest rates must be low and asked the Bank of Thailand to look at the exchange rate so that it does not put it at a disadvantage to competitors. Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, said that the direction of the Ministry of Finance and the Bank of Thailand (BOT) from now on will be more coordinated. This is a very necessary matter. If fiscal and monetary policies do not go together, it will be difficult. We are beginning to see the same direction from continuous discussions that this is necessary if we want to see the country improve, we must work together. In the discussion with the Bank of Thailand (BOT) yesterday (October 29), we agreed on the inflation framework, which we use d at 1-3%. We know that to make the economy grow more, inflation must not be too low, but not too high either. We must try to bring the inflation rate close to 2%. However, interest rates are also related to economic growth, but they are also about investment. People know that when the economy is growing, we need to know that we need low interest rates to stimulate investment. This is something that we have to think about ourselves, without having to say that we have to keep interest rates low. We have to think about it continuously. Another thing that I have asked the BOT to help look at is that since we are an exporting country, we have asked them to look at the exchange rate. We have asked them to look at the exchange rate and not let our country be at a disadvantage to our competitors. Source: Thai News Agency