Economist Barnabas Gan at UOB Group assessed the latest monetary policy meeting by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50%, after cutting it by 25 basis points in May. The decision to keep its policy rate unchanged was voted unanimously by all seven committee members.” “Whilst keeping its benchmark rate unchanged, BOT downgraded its GDP growth and inflation outlook for 2020. For this year, GDP is expected to contract by 8.1%, while consumer prices are pencilled to decline 1.7%. This compares against BOT’s previous GDP and CPI outlook of -5.3% and -1.0%, respectively.” “Policy-makers also highlighted their concern over the strengthening Thai Baht “which affects economic recovery”, suggesting that more accommodative measures may be seen in the future to stem THB’s strength.” “With rates approaching the zero mark, policy space is increasingly limited. Policy-makers may just see its last benchmark rate cut by another 25 basis points to 0.25% to support growth and inflation in 3Q20, failing which, unconventional measures such as asset purchases or yield curve control may be adopted.” 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 USD/CAD holds steady above mid-1.3600s, bullish bias intact FX Street 2 years Economist Barnabas Gan at UOB Group assessed the latest monetary policy meeting by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50%, after cutting it by 25 basis points in May. The decision to keep its policy rate unchanged was voted unanimously by all seven committee members.” “Whilst keeping its benchmark rate unchanged, BOT downgraded its GDP growth and inflation outlook for 2020. For this year, GDP is expected to contract by 8.1%, while consumer prices are pencilled to decline 1.7%. This compares against BOT’s previous GDP and CPI… 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.
