Bank of Thailand to resist pressure to cut interest rates

The government is putting pressure on the Bank of Thailand (BoT) to cut interest rates in order to weaken the baht, which has been the best performing currency in Asia so far this year. The central bank guards its independence very closely, and with little evidence that the appreciation of the baht is causing problems for the country’s exporters, interest rates are likely to be left on hold at the central bank’s meeting on Wednesday.