Bank of Thailand in no rush to change policy stance

The Bank of Thailand (BoT) kept its policy rate at 3.0% today, as was widely expected. The economy looks to have grown strongly in Q1, following floods that brought a slump in GDP late last year. Domestic demand should strengthen further, but below-trend global growth is likely to hold back exports. Given Thailand’s reliance on export-led growth, we expect the BoT to loosen policy in Q4.

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