Thailand: BoT kept the steady hand in June – UOB

Economist at UOB Group Enrico Tanuwidjaja reviews the latest monetary policy meeting by the BoT.

Key Takeaways

“As widely expected, the Bank of Thailand (BOT) kept rates unchanged at its Jun MPC decision today despite soaring inflation in May.”

“BOT kept rates unchanged at 0.50% in order to ensure a steadier recovery as tourism picked up pace, supporting domestic economic recovery.”

“We revise the timing of our forecast for BOT to hike rates by 25bps to 0.75% at its Nov MPC meeting, from previous projection of first lift-off in Jun.”