An economist at UOB Group, Barnabas Gan reviews the latest event by the Bank of Thailand (BoT).
“The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% for its 13th consecutive meeting on 22 December 2021. The last time it made a move was in May 2020, when the benchmark rate was cut by 25 bps. The decision to leave the benchmark rate unchanged was unanimous across the committee members, unlike the meeting on 4 August where 2 out of 6 committee members voted for a rate cut.”
“Policy-makers upgraded their 2021 GDP growth outlook to 0.9%, up from 0.7% in their September monetary policy report. For subsequent years, the committee forecasts that GDP growth will average 3.4% and 4.7% in 2022 and 2023, respectively.”
“The latest policy statement was comparatively more cautious given the introduction of the Omicron COVID-19 variant.”
“On inflation, the central bank views that headline inflation will stay within target in the medium term, with headline CPI projections at 1.2%, 1.7% and 1.4% in 2021, 2022 and 2023, respectively.”
“More importantly, barring an uncontrolled surge in COVID Thailand, we think that BOT will likely 19 infection in take a step towards normalisation by inject ing a rate hike of 25 basis points in 4Q22.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
EUR/USD retreats from 1.0900 as DXY recovers modestly
EUR/USD erased daily gains during the American session as Wall Street moved off highs. The deterioration in market sentiment is helping the US Dollar look less weak. As a result, the pair is moving further away from the seven-week high of 1.0929 toward 1.0850.
GBP/USD stabilizes around 1.2300 on BOE day
Following a pullback with the initial reaction to the Bank of England's policy announcements, GBP/USD has regained its traction and climbed above 1.2300. The pair remains on track to post gains for the second straight day as the US Dollar struggles to find demand.
Gold: XAU/USD hits fresh highs above $2,000 as US yields resume slide Premium
Spot gold rose further during the American session, climbing again above $2,000/oz, despite the modest recovery of the US Dollar. US yields resumed the decline, boosting the yellow metal. The US 10-year yield fell to 3.42%, the lowest since Monday.
Breaking: Terraform Labs founder Do Kwon arrested in Montenegro: Interior minister
Terraform Labs' founder Do Kwon is arrested, according to Minister of Interior of Montenegro Filip Adzic. This is a developing story and will updated
Ford (F) Stock News and Forecast: $3 billion EV loss leads shares to advance
Ford (F) stock is demonstrating on Thursday exactly why automotive C suites are pivoting to electric vehicles. It is not because of the environment or due to easy profits. It is because the market likes it.