Thai cenbank says rate cuts not a quick fix for sluggish economy

FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok

BANGKOK: Thailand's "uneven" economic recovery cannot be fixed only by adjusting interest rates, the central bank said on Monday, hitting back at the government's calls to ease monetary policy to help revive sluggish activity.

Bank of Thailand (BOT) Assistant Governor Piti Disyatat said at a briefing its rates were already very low compared with global rates and that cutting them would not help an economy facing structural problems and external factors like slowing global demand.