Oil Binds Monetary Authorities

December 2005
Asia Monitor: South East Asia Monitor Volume 1;Dec2005, Vol. 16 Issue 12, p1
Country Report
Country Report
The article focuses on the rise in consumer prices which lead to challenges to monetary policy execution in Thailand. The Bank of Thailand (BoT) has created a firm impression that the monetary authorities will continue to tighten policy until the inflationary pressure which has afflicted the economy begins to fade. The background to the BoT's policy decision is one of significant price instability. Based upon Thailand's need to import machinery and equipment to boost its domestic capital stock, as well as to support the implementation of the government's Mega-Project Investment Plan, persistently higher oil prices are likely to be accompanied by continued price pressures and external imbalance.


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