Barnabas Gan, Economist at UOB Group, gives his views on the latest Bank of Thailand (BoT) monetary policy. Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% for the third consecutive meeting. The last time it made a move was in May when the benchmark rate was cut by 25 basis points. The decision to keep its policy rate unchanged was voted unanimously by all seven committee members.” “The central bank upgraded its GDP outlook to -7.8% in 2020, up from a prior forecast of – 8.1%. In the same vein, BOT also viewed that headline inflation “would be less negative” at -0.9% in 2020, up from a previous outlook of -1.7%.” “Risks that may effectively cap economic growth included the deteriorating household debt service capability as the labour market outlook remained soft. In response, BOT cited that financial institutions should expedite debt restructuring for both households and businesses.” “With Thailand’s benchmark rate already at its record low, policy space is increasingly limited. In view of the improving economic outlook and a potential uptick in consumer prices going forward, BOT could see more reluctance in engaging further rate cuts in the year ahead. Fiscal measures are expected to play a greater role going forward should more stimulus be required. As such, we now expect BOT to keep its benchmark rate unchanged at 0.50% for the rest of 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK PM Johnson: Doing everything we can to support jobs FX Street 2 years Barnabas Gan, Economist at UOB Group, gives his views on the latest Bank of Thailand (BoT) monetary policy. Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% for the third consecutive meeting. The last time it made a move was in May when the benchmark rate was cut by 25 basis points. The decision to keep its policy rate unchanged was voted unanimously by all seven committee members.” “The central bank upgraded its GDP outlook to -7.8% in 2020, up from a prior forecast of - 8.1%. In the same vein, BOT also viewed… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.