BoT: No need to control inflation now

Published on March 16, 2012 by TFP   ·   No Comments

BANGKOK, 16 March 2012 – Governor of the Bank of Thailand (BoT) Prasarn Trairatworakul has shrugged off concerns over inflation in the next six months and rejected the necessity to issue measures to curb taxes and interest rates.

The central bank governor met with Prime Minister Yingluck Shinawatra on Friday morning to brief the premier on the economic situation. He reaffirmed that inflation in the next six months was not worrisome, judging from supply and food prices. The governor said the production and transportation sectors had returned to normalcy after the floods but warned about oil price. However, he remarked that the increasing oil price was not a result of increasing demand, but the result of tensions in the Middle East. If the differences can be thrashed out, oil price will likely go down.

Mr Prasarn added that the factors which could lift inflation included the government’s policies of minimum wage hike and civil servants’ pay raise. He suggested that the government develop labor skills and put off non-urgent assistance measures.

(NNT : Narumon Ngamsaithong)

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