© Reuters. FILE PHOTO: The Bank of Thailand brand is pictured in Bangkok, Thailand, August 5, 2016. Picture taken August 5, 2016.REUTERS/Chaiwat Subprasom/File Photo
BANGKOK (Reuters) – The Bank of Thailand (BOT) is able to lower charges if consumption falls sharply, a senior official mentioned on Thursday, a day after it saved financial coverage unchanged amid strain from the federal government to ease.
“If we look at the numbers and private consumption falls sharply and there is a clear change – that is an important factor in considering key rates,” BOT Senior Director Sakkapop Panyanukul informed a neighborhood tv programme.
Cutting charges would have a long-term detrimental impression and would solely have restricted advantages to debtors, he mentioned.
“Any cuts would be small,” he mentioned.
The financial coverage committee on Wednesday voted to carry key charges at 2.50%.
Prime Minister Srettha Thavisin has repeatedly urged the central financial institution to ease financial coverage, saying small companies and debtors are struggling at decade-high rates of interest.