Thailand's central bank governor said on Tuesday the speedy rise of the country's baht currency was causing concern, but played down the chance of launching unconventional measures such as mass bond purchases any time soon.
"Our concern was the speed of the adjustment," Sethaput Suthiwartnarueput said during an emerging market conference organised by the Institute of International Finance. The main uncertainty lies around tourism which accounts for 12% of Thailand's economy and about 20% of jobs in the country. The Thai central bank left its benchmark interest rate unchanged at an all-time low of 0.50% for a fourth straight meeting last week, having enacted three cuts earlier in the year.However he played down the prospect of moving into bond buying any time soon, as some other central banks in the region have this year.
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