Prime Minister Srettha Thavisin has accepted the decision of the Monetary Policy Committee (MPC), which voted 5 to 2 to maintain the policy interest rate at 2.50% per annum. He clarified that it is the duty and prerogative of the MPC to make such decisions.
He mentioned that he disagreed with the decision but acknowledged that the government does not have the right to interfere. The premier expressed the hope for future interest rate reductions based on upcoming economic data and figures, without setting a predetermined direction for monetary policy. However, he said the government will continuously assess the situation to make appropriate economic policy decisions.
Furthermore, Prime Minister Srettha spoke about the importance of managing fiscal and monetary policies in the same direction and addressing the issue of experiencing deflation for four months.
He acknowledged the differences in opinion between the administrative and the implemental branches, which could be an obstacle to policy management.
Yet, he affirmed that all societal issues, whether drug abuse, security, or air pollution, must be addressed and resolved together, emphasizing the duty of the people’s representatives to tackle these problems. (NNT)
