The new measures are a further negative for the baht, which has already slipped more than 9% this year due to slowing economic growth, the worst drought in decades and a delay in the government’s budget due to political wrangling.
BANGKOK: The Thai baht’s transformation from Asia’s best performing currency in 2019 to one of its worst this year is poised to accelerate after the central bank cut interest rates and said it would boost financial-market liquidity to counter the impact of the coronavirus.
The decisions came in a blitz of announcements starting with the emergency rate cut on Friday evening, and carrying through to a press briefing on Sunday afternoon.
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