Thai central bank chief says current policy rate neutral, economy not in crisis

23 Sept 06:24 Key points summarised by AI

Thailand's central bank chief, Sethaput Suthiwartnarueput, asserts the current policy rate is neutral and the economy is not in crisis, directly contradicting the government's stance.
He rejects calls for interest rate cuts and quick-hit stimulus measures, arguing that long-term economic growth requires structural reforms, not short-term fixes.
Sethaput forecasts slower economic growth for 2023-2024 due to weaker tourism and exports, but clarifies that recent negative headline inflation is temporary and not indicative of deflation.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.