Baht’s depreciation is now being driven by a wider difference between interest rates in the United States and Thailand which had gone beyond a critical point at 150 to 175 basis points even before Wednesday’s rise and which could see it grow wider by up to a further 175 basis points by the end of this year if the Federal Reserve maintains its hawkish stance and with projected Thai interest rate rises. The situation ultimately may lead to the Bank of Thailand being forced to raise interest rates higher and faster than it wants given the capital movement we are now witnessing thus supporting the acting PM’s call for action.

https://www.thaiexaminer.com/thai-news-foreigners/2022/09/21/ ...