BOT warns of impacts from Brexit referendum

BANGKOK, June 17 (TNA) - The Bank of Thailand (BOT) has warned of fluctuations in the global financial and capital markets, including those in Thailand, pending next week's referendum on Britain's future with the European Union (EU). BOT Governor Veerathai Santiprabhob made the warning on Friday regarding the public referendum on June 23 on whether Britain should leave the 28-member EU or Bexit. Veerathai noted that impacts from the issue include fluctuations in currency exchange rates, as investors have moved to low-risk assets in order to avoid risks before the result of next week's referendum. The BOT governor suggested that the private sector and business operators manage their risks well to protect themselves from the fluctuations. The central bank governor affirmed that BOT has enough instruments to protect the Thai economic recovery from the fluctuations. According to the BOT chief, if Britain voted to leave EU, BOT would study medium and long-term risks, as agreements with Europe would have impacts on the Thai and the global economies. Meanwhile, Kesara Manchusree, President of the Stock Exchange of Thailand (SET), pointed out that investors are concerned over the pending decision of Britain, with the evidence seen in active stock sales on June 16. Kesara cautioned that more speculations and rumours could be happening in the lead-up to the June 23 referendum as investors would be more panic, advising investors to focus on the fundamentals of listed companies. (TNA)