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BoT stands pat in November, unlikely to adjust monetary stance in either direction - ANZ

The Bank of Thailand voted unanimously to maintain the key interest rate on hold at 1.5 percent today, consistent with market expectations. This is for the 20th consecutive time that the BoT has kept its benchmark rate unchanged at 1.5 percent.

While domestic economy saw some acceleration, the Bank of Thailand is of the view that an accommodative policy is still required. Economic activity has turned a corner yet the emerging improvement is still restricted. Private investment is tentatively rising, recording its third consecutive month of marginally positive growth after contracting for a year. But private consumption has yet to sufficiently rebound.

In spite of the nascent improvement, demand-pull inflationary pressures continue to be subdued. The Bank of Thailand expects inflation to reach its inflation goal by mid-2018. In October, headline inflation came in at 0.86 percent year-on-year, well-below the BoT’s 1 percent-4 percent target range. At present, there does not seem any urgency for the central bank to alter its monetary stance in either direction.

“Although the benchmark rate remains near a record low of 1.25 percent, the strength of the business cycle or inflation dynamics do not call for tightening”, added ANZ.

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November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

Actual

54.6 %

Forecast

Previous

54.6 %

November 27 09:00 UTC 30933093m

ITExport Prices*

Actual

Forecast

Previous

111 %

November 27 09:00 UTC 30933093m

ITImport Prices*

Actual

Forecast

Previous

116.1 %

November 27 14:00 UTC 33933393m

MXTrade Balance, $*

Actual

Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 33933393m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 34833483m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 38133813m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 39933993m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 44134413m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

Close

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