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[Jai Dee]

Chamber of Commerce requests new govt. to maintain 30% capital reserve requirement

Chairman of the Thai Chamber of Commerce Pramont Sutheewong (ประมนต์ สุธีวงศ์) says FED’s 0.5% interest rate cut will not affect Thailand’s economy much in a short-term period. He also calls on the new government to maintain the 30% capital reserve requirement and prepare measures for fluctuations of the baht currency after the requirement is lifted.

The chairman also suggests BoT to adjust the country’s interest rate in line with FED’s rate, adding that the global economic situation is deteriorating.

Mr Pramont affirms the new government should carefully consider before deciding to withdraw the 30% reserve requirement.  

Source: Thai National News Bureau Public Relations Department - 31 January 2008

[highdiver]

Maxi101, on 2008-01-22 16:53:10, said:

Hello Golden boys,

how the Set is doing today, seems a bit to rumble in the Pit worldwide right ?

maxi

set is back on track than you...

[Supaporn]

highdiver, on 2008-01-31 14:03:13, said:

set is back on track than you...

What does that mean????

[Old Man River]

Quote

Chamber of Commerce requests new govt. to maintain 30% capital reserve requirement

Chairman of the Thai Chamber of Commerce Pramont Sutheewong (ประมนต์ สุธีวงศ์) says FED’s 0.5% interest rate cut will not affect Thailand’s economy much in a short-term period. He also calls on the new government to maintain the 30% capital reserve requirement and prepare measures for fluctuations of the baht currency after the requirement is lifted.

The chairman also suggests BoT to adjust the country’s interest rate in line with FED’s rate, adding that the global economic situation is deteriorating.

Mr Pramont affirms the new government should carefully consider before deciding to withdraw the 30% reserve requirement.  

Source: Thai National News Bureau Public Relations Department - 31 January 2008

Isn't it funny how many people were up in arms when the 30% RR was kept in place by the BOT for so long? Now Chairman of the Thai Chamber is starting to see why the BOT kept them in place. Since one of the PPP's main economic policies was to abolish these controls, the real world is starting to hit home with some of these guys as to the potential impact on the THB if capital controls are lifted while USD rates are declining.

[Pepe']

ovenman, on 2007-04-27 01:10:26, said:

george, on 2007-04-27 15:58:08, said:

BANGKOK: --  The Thai economy is in crisis and the government must stimulate state and private investment to make consumption recover if it wants to see the country weather the economic crisis, a leading economist warned Friday.

This seems a bit overblown.  If the Thai economy is in crisis today, how would one describe its state in late 1997?

The best ever 57 to the dollar.

Boy that was a vacation to remember...