Change primary target from inflation and instead rein in baht, says the FTI | Bangkok Post: news

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FTI wants 1% cut in policy rate

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The Bank of Thailand’s monetary policy committee should take a strong steps to curb the baht’s persistent appreciation, Payungsak Chartsuthipol, chairman of the Federation of Thai Industries (FTI), said on Wednesday. 

Mr Payungsak this morning called a meeting of representatives of 42 industry groups to discuss ways to minimise the impact of the continuing strength of the baht, and to formulate a proposal to the central bank for action.

He said the Thai currency is now the strongest in the Asian region and far higher than the country’s trade competitors. It is time the monetary policy panel applied a strong remedy to stabilise the baht's value to restore exporters' confidence.

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