Central bank interest rate policy briefing on Friday

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The Bank of Thailand (BoT) says the country’s financial system is resilient and domestic financial markets continue to function normally despite increased volatility from global financial markets.

According to the central bank’s statement on Thursday, banks held significant levels of capital and loan loss provisions and were able to expand liquidity to support the continued economic recovery. Securities companies and insurance companies as a whole have been financially strong.

The BoT will hold a key interest rate and baht press conference on Friday at 10:30 a.m., as the local currency trades at its weakest level in more than six years against the US dollar.

The event is not an urgent policy rate meeting, and the BoT’s next monetary policy review will take place on August 10.

The “BoT Policy Insight” will be led by Senior Director Daranee Saeju and Director Nasha Anachotikul, the BoT said in a message to reporters on Thursday.

The central bank recently signaled the prospect of raising the policy rate, currently at a record high of 0.50%, to combat rising inflation.

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