The Effectiveness of monetary policy responding to the Covid-19 pandemic in Thailand

Abstract

This research analyzes the scenario of execution of a monetary policy during the COVID-19 pandemic in Thailand and 10 South East Asia countries. The concept of monetary policy shows that it is an instrument to deal with inflation rate, unemployment, and gross domestic product (GDP) in the economic downturn. The most significant determinant of GDP effect on inflation rate and unemployment in the pandemic period. A multipronged package of fiscal, monetary policies is applying these objectives in Thailand policy to alleviate some of an unpresented economy. The study shows a new database response to COVID-19 pandemic by collecting these on a comparable basis across 11 countries in Southeast Asia region. Because monetary policy are critical players to support and provide sufficient economy for the COVID-19 situation. Central banks are gaining a critical role in driving their alleviation in the financial system. However, the scope of monetary policy is enormous. The study will analyze the factors which affect the monetary policies and enhance the resilience and alleviation of the pandemic and financial system.