Thai central bank ready to pump Bt1 trillion into ailing financial markets

Central bank Governor Veerathai Santiprabhob, third from left, senior officials from the Ministry of Finance and representatives from the financial market hold an emergency press conference on Sunday (March 22) to announce a plan to inject liquidity of over Bt1 trillion into the bond market, which is hit by tight liquidity as a result of virus fears.

BANGKOK, March 23 (The Nation/ANN) -- The Bank of Thailand (BOT) has pledged to inject over Bt1 trillion to rescue the financial markets while the Ministry of Finance promised extra economic relief to support people affected by the Covid-19 fallout.

The BOT will allow banks to borrow money from it should investors make panic sales of investment units in bond mutual funds, BOT Governor Veerathai Santiprabhob said on Sunday.