BOT watches out national economic stability

BANGKOK, September 18 (TNA) - The Bank of Thailand (BOT) has emphasized on watching out and maintaining the national economic stability in both the short run and the long run for the maximum benefit of the majority of the public. BOT Governor Veerathai Santiprabhob told journalists of the policy on Monday, saying that the Thai central bank is, however, ready to listen to opinions from both the government, through the Ministry of Finance, and the private sector while considering and implementing the country's financial policies. The BOT governor noted that the central bank has discussed with all relevant parties, explaining that the BOT's Monetary Policy Committee (MPC) is, nonetheless, authorized to have the "final say" of all monetary and financial decisions. According to the central bank governor, MPC has normally examined data and information in all dimensions of the changing situation, including internal and external factors, before making a decision, the same stance of which is believed at the upcoming meeting of MPC, set on September 27. Meanwhile, the BOT governor pointed out that a main reason of the stronger baht currently is a high surplus in Thailand's current account, coupled with profit taking through speculation in the domestic bond market, rather than rising capital inflows, and BOT has coordinated with the Stock Exchange of Thailand (SET), the Securities and Exchange Commission (SEC) and other relevant agencies, to closely monitor the updated situation and to bring the situation under control. The BOT governor also acknowledged that more confidence in the Thai economy among international investors, due partly to the more stable domestic political situation, has boosted the SET index lately. (TNA)