BoT seen cutting rates in H2, 2024
The Bank of Thailand is projected to start cutting interest rates in the second half of 2024, in line with similar moves by the US Federal Reserve, say analysts, as the domestic economy needs more support to drive growth next year.
BMI, a unit of New York-based Fitch Solutions, said it believes the Thai central bank’s tightening cycle finished after October data showed the economy slipping into deflationary territory for the first time since August 2021. “While we expect price pressures to pick up over the coming months, the bigger picture is inflation will stay within the central bank’s target band of 1-3% in 2024,” said BMI.
Bangkok Post Reporter
