Thailand: BoT could pause its hiking cycle in 2023 – UOB
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Economist at UOB Group Enrico Tanuwidjaja reviews the latest interest rate decision by the Bank of Thailand.
“BOT voted unanimously to raise the policy rate by 25bps to 1.25%. This is its third hike for 2022. Back in Aug when BOT started its hiking cycle, 1 out of a total 7 members preferred a larger 50bps hike.”
“BOT deemed that a gradual policy normalization remains an appropriate course for monetary policy given the growth and inflation outlook in today’s decision statement.”
“We revised our view for another two 25bps back-to-back rate hikes to 1.75% in 2023 Jan and Mar MPC meeting and remained at that level for the rest of next year.”
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