Economist at UOB Group Barnabas Gan assesses the latest Bank of Thailand (BoT) monetary policy meeting. Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% as widely expected for the seventh consecutive meeting on 24 March 2021. The last time it made a move was in May 2020, when the benchmark rate was cut by 25 bps. The decision to keep its policy rate unchanged was voted unanimously by all committee members.” “While keeping its benchmark rate unchanged, the monetary policy statement adopted a seemingly more negative tone as compared to the previous February statement.” “Moreover, the Bank of Thailand downgraded its GDP growth outlook to 3.0% in 2021, and 4.7% in 2022, from a previous growth outlook (last reviewed in December) of 3.2% and 4.8% in 2021 and 2022, respectively.” “In all, we keep our call for BOT to leave its benchmark rate unchanged at 0.50% for the whole of 2021. Still, Thailand’s economic growth is likely to be uneven, amid pronounced downside risks should COVID-19 worsens. Should macroeconomic fundamentals stay unexpectedly subdued into 2H21, a 25 bps rate cut could materialise then.” 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/TRY to move into the 8.00-8.50 range – Danske Bank FX Street 8 months Economist at UOB Group Barnabas Gan assesses the latest Bank of Thailand (BoT) monetary policy meeting. Key Quotes "The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% as widely expected for the seventh consecutive meeting on 24 March 2021. The last time it made a move was in May 2020, when the benchmark rate was cut by 25 bps. The decision to keep its policy rate unchanged was voted unanimously by all committee members." "While keeping its benchmark rate unchanged, the monetary policy statement adopted a seemingly more negative tone as compared to the previous February… Top 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.
