BOT is concerned over consequences of energy and sub-prime mortgage crises

July 24th, 2008 - 4:12 pm ICT by Amrit Rashmisrisethi  

The Deputy Governor of the Bank of Thailand (BOT) , Mrs. Atchana Waiquamdee (อัจนา ไวความดี), says she is concerned that the energy and sub-prime mortgage crises may worsen the country’s economy in the second half of this year. She says their impacts could last till next year.

Mrs. Atchana says production and consumption in Thailand may shrink because of the crises. She says the BOT is prepared to manage its economic expansion schemes while maintaining economic stability.

In response to the recent increase of interest rate by 0.25 percent, Mrs. Atchana says it has yet to affect the overall economy, as the value of real interest rate is still positive. She has not commented about the potential move to raise the interest rate to curb inflation once again. She however says the central bank needs to monitor the economic direction first.

Source : National News Bureau, Public Relations Department of Thailand

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