BANGKOK: The politician daughter of Thailand's influential former premier Thaksin Shinawatra on Friday (May 3) said the central bank's independence was an "obstacle" in resolving economic problems, the latest salvo in an ongoing row over interest rates.
Thailand Prime Minister Srettha Thavisin with Paetongtarn Shinawatra, daughter of former Prime Minister Thaksin Shinawatra , after the polling stations closed on May 14, 2023, the day of the general elections in Bangkok, Thailand . BANGKOK: The politician daughter of Thailand 's influential former premier Thaksin Shinawatra on Friday said the central bank's independence was an"obstacle" in resolving economic problems, the latest salvo in an ongoing row over interest rates.
"The law that keeps the Bank of Thailand independent from the government ... is a problem and a significant obstacle in fixing economic problems," Paetongtarn told party members. Paetongtarn, who has been tipped as a potential leader of Thailand, said the BOT's monetary policy"refuses to understand and cooperate" and would hamper efforts to reduce high levels of debt.Its governor on Monday said the BOT would not bow to pressure. He told CNBC the current interest rate was appropriate for the economy and any short-term boost a rate cut could give was"not an efficient trade-off" when weighed against longer-term unintended consequences.
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