BANGKOK, 8 May 2013 The cabinet has instructed the Ministry of Finance to closely monitor the Thai baht situation. The Minister of Finance admits that the appreciation of the baht has made it difficult to work ,and that the National Bank should cut interest rates. National Bank has also proposed four measures, which should be agreed and acted upon.
According to Mr. Kittiratt Na-Ranong , Deputy Prime Minister and the Minister of Finance, the cabinet has assigned the Ministry of Finance and the Office of the National Economic and Social Development Board to closely monitor the baht situation and examine its impact on the export and the agricultural sectors. The result is to be reported to the Cabinet in order for it to find ways to solve the problems as soon as possible.
The government has recently acknowledged that the appreciation of the Thai baht has made its work more difficult. Meanwhile, Mr. Krittiratt has agreed with the four measures proposed by the National Bank, some of which, such as policy interest rate adjustment, may be implemented immediately as they are supported by the existing laws.