The Bank of Thailand (BoT) raised its policy rate by 25bp to 2.25% today, as expected. Growth is likely to pick up during the course of this year, and will be led by strengthening domestic demand and exports to the rest of Asia. Curbing inflation and ensuring that asset bubbles do not develop will stay the key priorities. We expect another 25bp hike in March followed by even more tightening this year.
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