New US administration will have mixed impacts on Thai economy: BoT

BANGKOK, Jan 21 (TNA) -- The new US administration will have both positive and negative impacts on the Thai economy, central bank chief says ahead of the inauguration of Donald Trump as the 45th US President. Volatility would persist in the world economy and financial markets due to Trump’s policies, said Veerathai Santiprabhob, Governor of the Bank of Thailand (BoT). “BOT will closely monitor to assess the market to ensure stability of Thai financial market,” he said. Trump’s policies aimed at spurring US economic growth would benefit Thailand too while protectionism aspect might affect Thai exports, Veerathai said on Friday when Trump will be sworn-in as US president. BoT possessed tools to control fluctuation in currency exchanges and would use them when needed, added the BoT Governor. Deputy Commerce Minister Sonthirat Sonthijirawong commented that he looked for clarifications the trade policies of Trump administration and instructed commerce officials to assess potential impacts on Thai exports. CIMB Thai President and CEO Kittiphun Anutarasoti viewed that financial market may face volatility in short-term as a result of Trump’s policies. He projected Thai economy growth this year at 3-3.2 percent. (TNA)