Thailand needs tighter fiscal stance - central bankerPedestrians walk past shops in Bang Kapi district, Bangkok, on Aug 20, 2023. That is part of BoT Governor Sethaput Suthiwartnarueput’s wish-list as he seeks to mitigate the impact of tighter United States interest rates on Southeast Asia’s second-largest economy. The central bank’s word of caution against expansive fiscal policy comes after this week’s election of Mr Srettha as Thailand’s 30th prime minister. (Photo: Reuters)Thailand’s fiscal consolidation efforts are likely to be constrained by implementation of poll promises, Fitch Ratings had said last month. The BoT will only intervene to smooth out excess volatility in the currency, Mr Sethaput said, adding that the central bank does not have a pre-determined level for the baht.
