BoT: Raising of US debt ceiling only short-term solution

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BANGKOK, 20 October 2013 The Bank of Thailand (BoT) believes the raising of US debt ceiling is only a short-term solution, while keeping a close watch on capital influx. 

Governor of BoT Prasarn Trairatvorakul has mentioned about the US Congress’s decision to pass the bill to raise the country’s debt ceiling and end the 2-week government shutdown, saying it is only a short-term solution as the US’s borrowing authority is extended only until February next year. However, he said the decision has eased some worries over the effects the US debt crisis could have to the world, adding that there have been some positive signs in many European countries and Japan.

The governor went on to say that Thailand still needs to closely monitor the capital influx, while assuring all sides of the BoT’s tight measures to handle economic fluctuation and currency volatility.