ANZ analysts note that as per expectations, the Bank of Thailand (BoT) today kept its policy rate on hold at 1.25% and lowered its growth and inflation forecasts for both 2019 and 2020.
Key Quotes
“The central bank left the door to further easing open, but provided few clues otherwise on their next move.”
“With its policy rate already back at its record low and financial stability concerns persisting, the bar for a further rate cut will be high and the growth trajectory is likely to be the key determinant for monetary policy.”
“Unless growth prospects deteriorate further, we think the BoT will keep its policy rate unchanged in 2020.”
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