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Free AccessMNI China Daily Summary: Tuesday, November 26
MNI BRiEF: Riksbank Puts Neutral Rate In 1.5 To 3.0% Range
MNI: Japan Govt Keeps Economic Assessment, Ups Imports
Senate Remains Opposed To Pita's PM Bid, Pheu Thai & MFP Reject Proposal Of Unity Gov't
Pheu Thai Deputy Leader Phumtham Wechayachai and Move Forward Party's spokesperson Rangsiman Rome pushed back against the idea of forming a national unity government, which was floated by Senator Jadet Insawang, who said that himself and most of his colleagues from the upper house remain opposed to Move Forward Party leader Pita Limjaroenrat's bid to become Prime Minister.
- Although Pita leads the party which secured the most seats in the lower house, much of the junta-appointed Senate remains opposed to his push to reform Thailand's strict lese majeste law and change the role of the military.
- Senator Kittisak Ratanawaraha was the last one to comment on the matter, as he warned that most Senators would never back Pita, whose premiership would exacerbate social conflicts, leading to bloodshed and potentially resulting in another military coup.
- Upper house sources told the Nation that "a core group of senators loyal to generals Prayut Chan-o-cha and Prawit Wongsuwan are actively lobbying their peers not to vote for (...) Pita," as backing the MFP leader would be "tantamount to betraying the monarchy."
- The Nation further reported that Senators are watching legal complaints against the MFP, which could lead to the dissolution of the party. On top of a petition surrounding Pita's alleged interest in a media company, another complaint has been filed this week, accusing the MFP of violating lese majeste law.
- MFP's Rangsiman Rome said that most of the undecided Senators remain concerned about Pita's stance on lese majeste, but the party will continue to address these concerns in attempt to persuade enough upper house members to back an MFP-led government.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.