Economics
Thai Central Bank Plays It Cool While Emerging Markets Worry About Turkey
- Bank of Thailand under less rate-rise pressure than peers
- Foreign reserves underpinning relative currency stability
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Thailand is playing it cool even as Turkey stokes heat under emerging-market central banks.
Countries such as Indonesia and India were already raising interest rates as their currencies weakened, even before Turkey’s travails fanned talk of contagion. Thailand, in contrast, is proving more resilient, aided by flush foreign reserves, baht stability and benign inflation amid steady growth.