Organizing a big political event of the Pheu Thai Party “10 months without waiting, continue to make it 10” on May 3, Mr. “Ung Ink” Paetongthan Shinawatra, leader of the Pheu Thai Party. He talked about economic problems under the management of the Pheu Thai government. which has grown lower than the average of countries in ASEAN. Ms. Pae Thongtan has accused the Bank of Thailand of being a major obstacle. It is a hot topic being talked about in the financial market circles, capital markets, major media, and social media. including foreign media Reflects a very bad image of the leader of the Pheu Thai government, Mr. Pae Thongthan Shinawatra, leader of the Pheu Thai Party. Go on stage to talk about the work of the Pheu Thai government over the past 10 months. When talking about the Bank of Thailand He lowered his head to read the contents of the tablet. But I probably don’t understand it very well. Therefore, it reads in a scrappy way, not as smooth as other stories. Khun Pae Thongthan said, “Now the law tries to make the Bank of Thailand independent from the government. This matter is considered a very important problem and obstacle in solving economic problems. Because fiscal policy has always been used in only one way. causing our country to have higher debt levels and increasing every year from setting a deficit budget. If the monetary policy administered by the Bank of Thailand refuses to understand and refuses to cooperate Our country will never be able to lower the debt ceiling.” I don’t know who wrote the script for Khun Pae Thongtarn, Pheu Thai Party leader. The writer probably doesn’t understand the Bank of Thailand’s monetary policy. I don’t understand the independence of the National Bank. Don’t understand public debt, household debt This script really gave the leader of the Pheu Thai Party a bad name and a lot of face. The Bank of Thailand has been independent from the “government” for a long time according to the Bank of Thailand Act 2008 in order to maintain the political stability of the nation by not allowing politicians to intervene. Therefore, it is not that “the law attempts to make the Bank of Thailand Freedom from the government.” Think about it, if the government or politicians had control over the national bank. You can set the interest policy as you like. To respond to political policy Just like Prime Minister Settha Thavisin and people in the Pheu Thai Party tried to pressure. The Governor of the National Bank uses every means to reduce interest rates as politicians want. If the National Bank agrees, when will it be done? It is guaranteed that the Thai economy and finances will experience disaster in the blink of an eye, no different from the “Tom Yum Kung era” where the Prime Minister did not understand the financial system and ordered the dissolution of 56 finances, leading to enormous economic and financial disaster for the nation. To this day, Thai people still cannot pay off all their debts for this reason in every country around the world. The National Bank is therefore independent from politicians or the government. Even though it is under the supervision of the government If you do this, Trust and confidence from investors will disappear immediately. Politicians can lobby and cause corruption like in the past, which happened last Wednesday. The US Federal Reserve (Fed) has decided to maintain the policy interest rate at 5.25–5.50%, which is the highest interest rate in 23 years. Even though US GDP growth in the first quarter was only 1.6%, President Joe Bai Den, the leader of the United States, who has the largest sanction power in the world, did not dare to intervene and tell the Fed chairman to lower interest rates in order to stimulate the economy. Like what Prime Minister Settha has done, it is considered an inappropriate interference in the power of the central bank. A reporter asked the Fed Chairman about the interference from politicians, Mr. Jerome Powell. The Fed Chairman replied that the US presidential election that It’s happening this November. It has no influence on the Fed’s interest rate decisions. The Fed’s policy decisions come from “What we think is appropriate for the economy” without taking “politics” into the analysis The Governor of the National Bank does not need to please politicians. It’s not bad governance. Then blame the National Bank for not reducing interest rates. Saying that makes me feel ashamed of the foreigner. “Wind Change direction.” Click to read the column. Additional “Thailand Notes”
