Thai PM monitors results of reduced key interest rate

BANGKOK, May 30 (TNA) - Prime Minister Yingluck Shinawatra says she is following up the updated situation, after the Bank of Thailand (BOT) decided on Wednesday to cut its key interest rate by 0.25 per cent, from 2.75 per cent to 2.50 per cent, to prevent a slowdown of the national economy. Yingluck declined to give any comment on the BOT's 0.25 per cent cut in its repurchase rate cut, but telling reporters on Thursday that she believes the central bank should soon issue additional measures to help local exporters. Yingluck insisted that she wants to see the stable Thai baht value, a drop in capital inflows to invest in domestic bonds but an increase in capital inflows for real investment in the Thai economy. The prime minister acknowledged that she is concerned over a slowing growth of the Thai economy, despite its strong fundamentals, and that the Thai government cannot intervene in the work of some agencies with regard to monetary policies, but her administration can work on fiscal policies and will do the best to minimize negative impacts and will continue working out measures to stimulate the national economy. As the Federation of Thai Industries or FTI said that it considers the BOT's repurchase rate reduction may not cope with the negative impacts, the prime minister noted that her government has already implemented immediate measures, including fiscal ones. (TNA)