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No conflict with ministry or govt adviser


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August 10, 2008

Thai central bank: No conflict with ministry or govt adviser
Bank of Thailand said it has no conflict with the finance ministry and chairman of a new economic advisory team to the prime minister, said the Thai News Agency (TNA) on Saturday.

TNA reported that BoT governor Tarisa Watanagase said both monetary and financial policies were needed to solve economic problems in Thailand, and the differences of opinions should be considered positive as they would help smooth the solving of problems prudently.

Chairman of the economic advisory team Virabongsa Ramangkura could also help improve the country’s economy, she said, adding that she had no conflict with him or with Finance Minister Surapong Suebwonglee, who is also deputy prime minister.

Thailand Hote

The economic adviser Virabongsa, a former finance minister, has been a strong opponent of the BoT’s recent moves to raise interest rates to curb rising inflation.

Thailand’s economic growth during the second half of 2008 may slow down in line with the global economy, according to Tarisa. Meanwhile, the country’s domestic inflation, which many observers fear will climb to double digit levels, will not increase that high, she said, because oil prices have started to soften.

However, the BoT will continue to monitor oil prices and domestic inflation closely, she added.

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