The Bank of Thailand (BoT) is unlikely to hold a special meeting on the policy interest rate, and will wait to assess first-quarter economic data before deciding whether it needs to be cut.
BoT governor Prasarn Trairatvorakul yesterday said no one had put pressure on the central bank's Monetary Policy Committee (MPC) to take action on borrowing costs. However, he said, the private sector and economic policymakers agreed at a meeting yesterday that local businesses should get ready for a gradual appreciation of the baht.
As the baht has strengthened since January, local exporters hope the MPC can help stem short-term speculative capital inflows into the bond market by cutting the policy rate.
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