Economics
Bank of Thailand Shifts Focus to Baht Rally, Holds on Rates
- Government urged to do more for recovery with fiscal policy
- Central bank to brief Friday on steps to restrain currency
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The Bank of Thailand signaled it will focus on tackling a rally in the nation’s currency, while keeping its benchmark interest rate unchanged for a fourth straight meeting to save limited policy space.
The bank’s Monetary Policy Committee “expressed concerns over the rapid appreciation of the baht as this affected the fragile economic recovery,” it said after its meeting Wednesday, adding that it will hold a briefing Friday on measures to address the issue. The currency dropped as much as 0.6% against the dollar after the statement.