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 next. Inflation next year is projected to be only 1.2%. Thailand should be relatively insulated from repercussions from Fed tightening, and continuing the very accommodative monetary policy seems appropriate.

Copyright 2018, Larry Greenberg. All rights reserved.  No secondary distribution without express permission.



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