FXStreet (Edinburgh) – The research team at BBH expects the Bank of Thailand to keep its monetary stance unchanged at tomorrow’s meeting.
Key Quotes
“Bank of Thailand meets Wednesday and is expected to keep rates steady at 1.5%”.
“However, a small handful look for a 25 bp cut to 1.25%”.
“CPI fell -1.05% y/y in July, which is way below the 1-4% target range”.
“Officials have been downplaying the need for more rate cuts”.
“However, the economy continues to face headwinds and deflation, so we wouldn’t rule out a dovish surprise this week”.
“If not, then the likelihood of rate cut later in Q3 seems to be rising”.
(Market News Provided by FXstreet)