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Wednesday, November 30, 2022

Bank of Thailand holds rates, mulls moves to curb baht

Bank of Thailand governor Setthaput Suthiwart-Narueput attends his first Monetary Policy Committee meeting, on Wednesday. (Photo: Bank of Thailand)

The Bank of Thailand (BoT) signalled 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 (MPC)  “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.

The MPC will also “closely monitor developments in foreign exchange markets and capital flows as well as…

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