Bank of Thailand set to raise rates in December

The Bank of Thailand (BoT) left interest rates unchanged at 1.50% today, but the hawkish tone of the accompanying statement suggests that a rate hike is now only a matter of time, as the central bank looks to clamp down on growing risks in the financial sector. However, with growth likely to slow over the coming quarters and inflationary pressures very low, any tightening is likely to be very gradual.