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Bank of Thailand likely to keep key interest rate unchanged at 1.5 pct in May

Thai central bank, the Bank of Thailand, is set to have its policy meeting next week. According to a Scotiabank research report, the BoT is expected to maintain its key interest rate at 1.5 percent. Inflation in the nation is currently at 0.4 percent year-on-year and much below the bottom of the central bank’s inflation target of 2.5 percent, plus or minus 1.5 percent. Thus, the policy risk going forward is evidently more tilted toward easing than hiking.

That policy risk continues to be mainly driven by evens outside of the country, including the outlook of U.S. Fed and the effect on the currency. The Thai baht, since the beginning of 2017, has strengthened against the U.S. dollar by around 4 percent and has been trading around its most robust levels since mid-2015.

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July 21 14:30 UTC Released

USECRI Weekly Annualized*

Actual

144.8 %

Forecast

Previous

2.4 %

July 21 14:30 UTC Released

USECRI Weekly Index*

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2.6 %

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Previous

143.9 %

July 24 00:30 UTC 15521552m

JPForeign Direct Investm't*

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52.4 bln $

July 24 07:00 UTC 19421942m

FRMarkit Serv Flash PMI

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56.7 %

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56.9 %

July 24 07:00 UTC 19421942m

FRMarkit Mfg Flash PMI

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54.6 %

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54.8 %

July 24 07:00 UTC 19421942m

FRMarkit Comp Flash PMI

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56.4 %

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56.6 %

July 24 07:30 UTC 19721972m

DEMarkit Service Flash PMI

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54.3

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54.0

July 24 07:30 UTC 19721972m

DEMarkit Mfg Flash PMI

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Forecast

59.2

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59.6

July 24 07:30 UTC 19721972m

DEMarkit Comp Flash PMI

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56.3

Previous

56.4

July 24 08:00 UTC 20022002m

RUMarkit Mfg Flash PMI

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57.2 %

Previous

57.4 %

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