BANGKOK : Thailand’s central bank is highly likely to raise its key policy rate at its August meeting, a senior director said on Thursday, as other central banks moved to tighten their monetary policy.
Weakness in the baht is still in line with those of trade partners and competitors and the central bank is ready to intervene if the Thai currency weakens too much, Don Nakornthab, a senior director at the Bank of Thailand (BOT), said on the TAM-EIG YouTube channel.
The baht hit 36.66 per dollar on Thursday, the lowest level in more than 15 years.
Don said if the baht weakens to 37 baht per dollar but still moves in line with regional peers, the monetary policy committee (MPC) might overlook that as a factor in their decision because they usually watch currency competitiveness.
He said the MPC would be deliberate in deciding how much the rate should be hiked as Thailand’s economic…
