Pheu Thai Party soldiers at the general level came out to protect “Nai Noi” Khun Paetongthan Shinawatra, Pheu Thai Party leader, in a row to appease “Nai Noi” after the Pheu Thai Party leader accused him of Bank of Thailand It is a major obstacle in solving economic problems. On stage at the event announcing the government’s 10-month performance This is because the Governor of the National Bank refused to reduce the policy interest rate by 0.25% as demanded by the Prime Minister of the Pheu Thai Party, which is an “interference” in the work of the National Bank that must be “Free from politics” like democratic countries around the world. To build confidence in the financial stability of the country, I agree with the proposal. “Doctor Setthaput Suthiwat Narueput Governor of the Bank of Thailand, Prime Minister Settha Thavisin, revealed yesterday that The Governor of the Bank of Thailand has recommended that coordination between the government and the Bank of Thailand should be done through the State Enterprise Policy Office (SPO), which is an agency of the Ministry of Finance. Because people who know about monetary policy talk to each other. It’s better to know than to talk to people who don’t know about monetary policy. Jerome Powell, Chairman of the Federal Reserve (Fed), the most influential financial figure in the world, spoke about “central bank independence” on stage. A discussion organized by the Swedish Central Bank earlier this year. It has been emphasized many times that The central bank needs to have “Independence” from political influence Especially at a time when central banks are rushing to rein in soaring inflation, Jerome Powell’s chairmanship has created chaos for the global financial economy. When he and the US Monetary Policy Committee Decided to raise the policy interest rate from 0.00-0.25% in early 2022 to the highest level quickly. To fight inflation, in 2022 alone, the US Federal Reserve raised interest rates 7 times, from 0.00-0.25% to 4.25-4.50% at the end of 2022, and in 2023, it increased interest rates 4 more times. From 4.25-4.50% to 5.25-5.50%, which is the highest level in 23 years, and has maintained the interest rate at 5.25-5.50% until today, but the US economy is still growing hotly Until the Federal Reserve couldn’t lower interest rates. reflect “Leadership efficiency” and “government efficiency” in managing the country are not related to high or low interest rates while Thailand’s policy interest rate is 2.50%, 2.2 times lower than the US interest rate, but the Pheu Thai government has managed the country until the economy is flabby. SME businesses are collapsing. Because they can’t sell products. Reducing interest rates to 0.25% for 6 months cannot help revive the business. If you don’t have purchasing power The government must accelerate job creation so that Thai people can earn additional income in a stable and sustainable manner. Only then can the economy recover. Mr. Jerome Powell, Chairman of the Federal Reserve, spoke about the Fed’s independence from political influence, saying that using measures to create price stability is Difficult decisions need to be made. which may not be satisfactory to politicians Price stability is considered the “foundation” of a strong economy and will benefit the public in the long run. But restoring price stability while inflation is high It is necessary to take measures that may cause dissatisfaction in the short term. The central bank’s duty is therefore a “sacred and important duty” as Dr. Setthaput said. Governor of the National Bank Speaking at the ceremony to receive gold from The group of disciples of Luang Ta Phra Maha Bua, I agree with. Governor of the Bank of Thailand who said, “Governments come and go. Governors come and go. But the Bank of Thailand institution must remain and must stay strong.” Most importantly, people must help protect each other and not let “politicians” who are rich in greed take control “National Monetary Policy” which is extremely dangerous Examples can be seen in South America. “Wind Change direction.” Click to read the column. Additional “Thailand Notes”
