Thailand May Deliver Bigger Rate Cut to Curb Baht, Citi Says

Thailand’s central bank could deliver a larger interest-rate cut in October as officials are under pressure to take quick and strong measures to curb the strengthening baht, according to Citigroup Inc.

The baht has surged almost 6% this year, prompting officials to consider options to curb its rally including a tax on gold to reduce the precious metal’s impact on the currency. Citi is recommending investors buy dollars against the baht.