Post by account_disabled on Dec 30, 2023 5:10:10 GMT
Mr. Lawan Saengsanit, Director of the Fiscal Policy Office As a spokesperson for the Ministry of Finance, it was revealed that on December 24, 2019, the Cabinet resolved to approve the monetary policy goals for the year 2020, which was a joint agreement between the Monetary Policy Committee (MPC) and the Minister of Finance. In order to comply with the provisions of Section 28/8 of the Bank of Thailand Act B.E. 2485 as amended by the Bank of Thailand Act (No. 4) B.E. 2008, it can be summarized as follows: 1. Set the general inflation rate in the range of 1-3 is the monetary policy goal of price stability for the medium term. and is a goal for 2020. 2. The Minister of Finance and the Governor of the Bank of Thailand, as Chairman of the MPC, signed an agreement to jointly set the goals of monetary policy for the year 2020. The said agreement The important points are as follows: 2.1 Principles for implementing monetary policy under a flexible inflation targeting framework.
The global and Thai economic and financial systems have recently faced many important structural changes. Especially the change in technology and the entry into the aging society. As a result, Thai inflation dynamics are likely to be lower than in the past. In addition, the structure of the Thai inflation basket has a high proportion of food and energy. As a result, Thai inflation is quite affected Telegram Number Data by the price of fresh food in the country and world energy prices that tend to decrease. In addition, the world economic and financial system is more complex and interconnected. causing external factors such as trade wars and geopolitical problems It will have a faster and more severe impact on the Thai economic and financial system in the next period. Conducting monetary policy under the current flexible inflation target framework allows the MPC to consider monetary policy appropriately and in line with changing economic and financial conditions.
It will focus on maintaining price stability in the medium term as the main goal. along with taking care of the economy to grow sustainably and to its full potential and maintaining stability of the financial system This is an important part in helping maintain price stability and long-term economic growth. 2.2 Monetary policy goals for the medium term and goals for 2020, the Finance Minister and the MPC have agreed to set general inflation in the range of 1-3 percent as the monetary policy target for price stability for the medium term. and is the target for 2020, with inflation during that period being at a level appropriate to the changing inflation dynamics. Especially from changes in technology and entering an aging society. and facilitate economic growth that is in line with the potential of the Thai economic system. In addition, changing the target model into phases Helps increase flexibility in conducting monetary policy in a world of high volatility and uncertainty. In addition, the goals of economic growth and financial system stability can be more effectively maintained.
The global and Thai economic and financial systems have recently faced many important structural changes. Especially the change in technology and the entry into the aging society. As a result, Thai inflation dynamics are likely to be lower than in the past. In addition, the structure of the Thai inflation basket has a high proportion of food and energy. As a result, Thai inflation is quite affected Telegram Number Data by the price of fresh food in the country and world energy prices that tend to decrease. In addition, the world economic and financial system is more complex and interconnected. causing external factors such as trade wars and geopolitical problems It will have a faster and more severe impact on the Thai economic and financial system in the next period. Conducting monetary policy under the current flexible inflation target framework allows the MPC to consider monetary policy appropriately and in line with changing economic and financial conditions.
It will focus on maintaining price stability in the medium term as the main goal. along with taking care of the economy to grow sustainably and to its full potential and maintaining stability of the financial system This is an important part in helping maintain price stability and long-term economic growth. 2.2 Monetary policy goals for the medium term and goals for 2020, the Finance Minister and the MPC have agreed to set general inflation in the range of 1-3 percent as the monetary policy target for price stability for the medium term. and is the target for 2020, with inflation during that period being at a level appropriate to the changing inflation dynamics. Especially from changes in technology and entering an aging society. and facilitate economic growth that is in line with the potential of the Thai economic system. In addition, changing the target model into phases Helps increase flexibility in conducting monetary policy in a world of high volatility and uncertainty. In addition, the goals of economic growth and financial system stability can be more effectively maintained.