Thailand deputy defends rate hold in wake of appreciating currency

baht

A Bank of Thailand deputy governor has defended the monetary policy committee's decision to hold interest rates despite an increase in capital inflows and an appreciation in the baht.

Speaking at the Dutch embassy in Thailand on March 1, Pongpen Ruengvirayudh said the decision to hold the benchmark rate at 2.75% had taken into account capital flows and the exchange rate, and she argued directly targeting the variables would be "counterproductive" and undermine the central bank's commitment to

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