Bank of Thailand chief denies economy in 'crisis' as PM urges rate cut

BANGKOK -- The Bank of Thailand resisted calls to hold an emergency meeting to cut rates, with its governor saying on Wednesday that the structural and cyclical problems weighing on the Thai economy will not be solved by a reversal of monetary policy. 

In an exclusive interview with Nikkei Asia, Gov. Sethaput Suthiwartnarueput said the central bank is "not dogmatic" about its current decade-high interest rate but urged a look behind recent numbers that show weak economic growth and negative headline inflation. Gross domestic product grew by only 1.9% in 2023, missing market expectations, as a political impasse delayed the 2024 government budget.