The Monetary Policy Committee (MPC) voted unanimously to raise the policy rate by 0.25 percent from 0.75 percent to 1.00 percent, effective immediately on Wednesday, September 28, contrary to analysts' expectations.

The MPC will not unanimously raise interest rates by 0.25%.

The MPC assesses that the Thai economy will continue to recover.

But there is an increased risk of inflation.

Therefore, it is advisable to raise the policy interest rate gradually to a level suitable for long-term stable economic growth.

In the event that the future economic and inflation outlook change from the forecast, the MPC is ready to adjust the policy rate hike and timing.

to be appropriate

The MPC sees that, despite the slowdown in the global economy

will affect the export sector

But it does not affect the overall economic recovery of Thailand.

The Thai economy is likely to recover continuously.

The return of foreign tourists is an important driving force.

It is expected that foreign tourists this year will come in at 9.5 million, accounting for 24% of the year 2019. In 2023, it is expected that there will be 21 million tourists, accounting for 53% of the year 2019. Therefore, the MPC estimates that the economy in the year 2022 will grow by 3.3 percent, and in 2023 will grow by 3.8 percent, while the World Bank has increased Thailand's GDP this year from 2.9 percent to 3.1% in 2023, an increase of 4.1%, higher than the Bank's forecast. D.

Importantly, the recovery of the Thai economy this time

It was a more thorough recovery, both in the dimension of the business field and the dimension of the income that began to spread better.

from the clear recovery of the service sector

Anyone who travels in the tourist city during this period will see that

The city has come to life again, including shops, restaurants, tourist attractions.

look bustling

I agree with the MPC not to speed up interest rates following the US.

but gradually increased

to support the economic recovery in the country

US problem

with the problems of Thailand is not the same

The problem of the United States is caused by

The central bank's wrong decision to allow inflation to skyrocket

Then raise interest rates to suppress inflation, and accelerating interest rates to push inflation as high as 8-9% back to 2% is a double wrong decision.

The acceleration in interest rates resulted in

start of business

Cost of living soars, companies go bankrupt, people lose their jobs, analysts around the world look in the same direction.

By doing this, the US economy will definitely go into recession.

I believe that the US economy will be in recession, companies will go bankrupt, unemployment, and abandoned houses will be full.

High interest, unable to pay installment

Politics is divisive.

Many social problems in the US will follow.

But Thai inflation is not like the US.

Thai inflation is caused by cost push from rising energy costs.

But now the world oil price is trending down.

I wrote this article on Wednesday.

US crude oil price

Down to $77.59 a barrel British crude oil fell to $85.36 a barrel as the US and Europe are entering the winter.

The MPC assesses that

Thailand inflation in 2022 will be 6.3 percent and in 2023 will be reduced to 2.6 percent.

What this government, especially the Ministry of Commerce, must work with integrity is that once inflation has dropped,

Product prices that have gone up this year

have to lower the price

to alleviate the cost of living of the people

not up and up

The Ministry of Commerce can't pretend to be ignorant.

I think looking at the global economy from now on

Must look at it from a new perspective because the globalization system in which the world depends on each other is collapsing due to the policies of the US Donald Trump and Joe Biden era who want to Make America Great Again, but I believe America Will Not Great Again us. You will probably see this truth in no time.

"The wind changes direction"