Inflation behind BOT decision to hike interest rate
Bank of Thailand Governor MR Pridiyathorn Devakula said the Monetary Policy Committee's expectation that inflation would exceed 6.2 per cent in June was behind its decision to raise the 14-day repurchase rate further by 25 basis points in Wednesday's meeting.
"I had held talks with caretaker Finance Minister Thanong Bidaya and explained to him that the MPC would have to tame the high inflationary pressure before it happens, otherwise it might lead to damage for business.
"After the meeting, Thanong understood the reason," he said.
Ahead of the MPC's meeting, Thanong and Olarn Chaipravat - an adviser to Thanong - commented that a further rate hike would aggravate the already weakened investment atmosphere.
RS forms event organiser unit
RS Plc, an entertainment firm, has set up RSI-Dream Entertainment Co Ltd with registered capital of Bt10 million.
RS holds a 51-per-cent stake in the event organiser, with the funds coming from its working capital.
RSI-Dream Entertainment will focus on organising concerts and special events.