Bank of Thailand governor Veerathai with some comments
- Thailand is definitely not a currency manipulator
- Have to be careful about Thai baht impact on real sector
- Rate decision split isn't something new
The central bank held key rates steady in its meeting at the end of March with a 6-1 vote, with the dissenting member opting for a 25 bps rate hike. It was the first split decision in over three years.
They have been struggling to talk down the appreciation in the Thai baht since January, and evidently by the performance of the currency so far this year their efforts are falling on deaf ears in the market.
Asian currencies' performance against the US dollar so far this year
