Bank of Thailand

Monetary Policy Reviews, an Intensifying U.S. Political Crisis, Trade Talks, and Some Data Surprises

May 8, 2019

Central bank officials in New Zealand and Malaysia cut their interest rates, while those in Thailand maintained an “accommodative but appropriate” 1.75% rate level. Thailand’s growth outlook was revised downward, but the inflation prognosis wasn’t changed. New Zealand’s official cash rate was lowered 25 basis points to 1.5%. Such had been 1.75% since November 2016. […] More

Financial Market News Cycle Headed by FOMC, Brexit, and U.S./Sino Trade Talks

March 20, 2019

Today’s FOMC announcement at 14:00 EDT (18:00 GMT) will be accompanied by updated forecasts and followed at 14:30 by Chairman Powell’s press conference. Analysts look for scaled-back growth and inflation forecasts, fewer interest rate hikes this year than indicated earlier, and a stop in quantitative tightening. British Prime Minister May is asking for a 3-month […] More

Aussie Dollar Down More than 1% Overnight

February 6, 2019

An overnight speech by Bank of Governor Lowe, not Donald Trump’s delayed State of the Union address, stole the currency market spotlight today. Forward guidance from the Reserve Bank of Australia had for some time pointed to an eventual interest rate increase, but Lowe said that in line with shifting economic data and changing global […] More

Bank of Thailand Tightens for First Time Since August 2011

December 19, 2018

The Bank of Thailand’s one-day repo rate was lifted 25 basis points to 1.75% in an expected move. This was the first hike since August 2011 and the first rate change since a pair of 25-basis point cuts in March and April of 2015. According to a released statement, the rate hike was made in […] More

Sterling Continues to Stumble on Hard Brexit Fears

August 8, 2018

Sterling hit new 2018 lows of EUR 0.9019 and $1.2859. The dollar is 0.6% stronger against the pound than its Tuesday closing level. The dollar is also up 0.3% versus the loonie, down 0.3% relative to the yen, and barely changed against the euro, Swiss franc, Aussie dollar or kiwi. Asian stocks were mixed Wednesday, […] More

Bank of Thailand: No Change

June 20, 2018

Thailand’s one-day repo rate was kept at 1.5% by a vote of 5-1. It’s been at that level since a 25-bp cut in April 2015. Unlike some Asian economies, Thailand runs a current account surplus. Inflation still lies below the 1-4% target midpoint. Officials took this occasion to raise projected GDP growth this year and […] More

Bank of Thailand’s Policy Rate Left Unchanged at 1.50%

May 16, 2018

A released statement┬áby the Monetary Policy Committee defends the appropriateness of an accommodative policy stance. Although the economy continues to gain traction, external risks persist. A positive output gap is diminishing, but it will be some time before sub-target inflation rises to its desired level. Core inflation is rising only slowly. Officials promise to monitor […] More

Bank of Thailand’s Interest Rate Again Held at 1.50%

March 28, 2018

A sole dissenting vote in favor of raising the Thai central bank interest rate to 1.75% was outgunned by a 6-vote majority of the Monetary Policy Committee that preferred leaving the rate at 1.5%. The level has been there since a pair of 25-basis point cuts in March and April of 2015. Six earlier quarter […] More

Investors Not Sure What to Think

March 28, 2018

Although stocks traded mostly lower overnight, U.S. futures point to a rise around the open. However, a pattern seems to be forming of early resilience giving way to sell-offs in the final part of each session. This is reminiscent of 2008-09, when much of the markets steep decline occurred in the final 30 minutes of […] More

Bank of Thailand

February 14, 2018

Thailand’s central bank policy interest rate has been at 1.5% since 25-basis point cuts in March and April of 2015. Monetary Policy Committee members decided to keep it at this pro-growth, accommodative level at this week’s review, releasing a statement that defends the need for such in order to promote the upward return of inflation […] More