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BOT: Thai property is unlikely to be affected by the US Subprime mortage market fallout

Suchada Kirakul, Assistant Governor of the Bank of Thailand, said that the fallout from the US subprime mortgage market would be unlikely to spread to Thai property market because of a series of mechanism in place to prevent the contagious. Besides, the funds are not exposed to Thai credit markets.

Asian stock markets, including Thailand, earlier this week experienced a sell-out as investors feared of risky lending.

However, Suchada said that such risky lending was unlikely to be contagious to Thailand because of a series of preventive measures and besides, Thai property is far from experiencing the booming.

On the Commerce Ministry's Wednesday announcement that the inflation reached the lowest record in 42 months, Suchada said that Commerce Ministry's announcement is similar to the central bank's revised forecast. On the fears of the possible deflation, she said that the central bank has already reduced the interest rate to boost the economy.

Anoma Srisukkasem/The Nation

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BOT: Thai property is unlikely to be affected by the US Subprime mortage market fallout

Suchada Kirakul, Assistant Governor of the Bank of Thailand, said that the fallout from the US subprime mortgage market would be unlikely to spread to Thai property market because of a series of mechanism in place to prevent the contagious. Besides, the funds are not exposed to Thai credit markets.

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