Thursday, August 4, 2016

Policy Rate Unchanged, BOT Could Intervene If THB Strength Persists

Economic Research
04 August 2016

Economic Highlights

The Bank of Thailand (BOT) kept its benchmark lending rate (1-Day Bilateral Repurchase Rate) unchanged at 1.50%, as the monetary policy committee (MPC) was satisfied that current rate was conducive to the economic recovery. The committee expressed faith in the continued recovery of the economy, on the back of increased public expenditure and tourism. Private consumption was also judged to be on an uptrend, supported by improvements in the income and confidence of agricultural households. Nevertheless, the MPC raised concerns over the recent strengthening of the THB against major currencies, and the “search-for-yield” behaviour of investors, and will monitor developments closely.

Economist:  Ng Kee Chou  | +603 9280 2179

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