Central bank says ‘strong medicine’ to curb baht is last resortThailand's central bank is still concerned about the strength of the baht and is ready to take further action if necessary, a deputy central bank governor said on Tuesday. "We have a lot of weapons ready, but there is no speculation from foreign investors yet," he said, adding the central bank was monitoring the market closely. Rising international reserves show the Bank of Thailand (BoT) has closely managed the baht by buying dollars, Mr Mathee said. The central bank will further relax rules to spur outbound investment to help ease upward pressure on the baht, he said. The central bank has forecast Southeast Asia's second-largest economy will expand 2.8% this year after growing by an estimated 2.5% in 2019, a five-year low.

Source: Bangkok Post January 14, 2020 04:52 UTC