Reducing the exposure of foreign ownership to government bond markets is already on its way. The total holdings portion of foreign investors funds which stand at 40 percent in 2017 has been reduced to 15.31 percent as of May 2023. This momentum should be supported by bridging back the great disconnection. The current critical job is starting with diversifying the exposure of domestic investors by strengthening the investor base through insurance, pension fund, and retail investors in the government bond market---diversifying the exposures of domestic investors.
Finally, maintain a robust and sustainable current account balance standing at the top of solid economic fundamentals. Advancing shift from commodity dependence must come to the first place in gradual and orderly progress by now. Relying on rising commodity prices to shore up the balance sheet is highly unsustainable. For example, with a relative lack of reliance on commodity trade, Baht has sealed its unlikely claim to be the world's most resilient currency for several years. Thereunto the monetary policy authority has to make the monetary stance truly deliver consistent messages in building investors' confidence and where it's heading to. It will be connecting the monetary stance to the market and support the expectations that will lead to the money and bonds market moving aligned again.
