Thai central bank monitoring baht weakness, no big worry yet: Finance Minister

BANGKOK: Thailand's central bank is closely monitoring the baht weakness but there has been no big concern about it yet, the finance minister said on Monday , as the currency hit its lowest in 16 years against the dollar.

"On baht weakness, the central bank is always taking care of what we've assigned. There isn't much of anything right now. Nothing serious still," Arkhom Termpittayapaisith told reporters. The baht has depreciated about 11.5 per cent against the greenback so far this year and was trading at 37.75 per dollar at 0723 GMT on Monday, a 16-year low.

Despite headline inflation breaching the Bank of Thailand's target range of 1 per cent to 3 per cent, the government still has no plans to adjust the range for 2023, Arkhom said. The inflation target is reviewed every year.The finance ministry is tackling inflation with measures on goods and energy prices while the BOT is using monetary policy.

The BOT is expected to raise its key interest rate again on Wednesday after hiking the rate in August for the first time in nearly four years to contain inflation.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK's finance minister Kwarteng says he is focused on growth, not market movesLONDON: British finance minister Kwasi Kwarteng said on Sunday (Sep 25) that he was focused on boosting longer-term growth, not on short-term market moves, when challenged over the sharp fall in sterling and bond prices following his first fiscal statement. Kwarteng scrapped the country's top rate of incom
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Pakistan's finance minister says he will formally resign from roleISLAMABAD: Pakistan's finance minister Miftah Ismail said on Sunday he planned to formally resign from the role, a change that comes as the country grapples with an economic crisis exacerbated by destructive flooding. 'I have verbally resigned as Finance Minister,' Ismail said in a Tweet, adding that he ha
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »