Thailand's central bank to cut further

The Bank of Thailand (BoT) lowered its policy rate by 25bp to 3.25% today in a bid to lift confidence and activity following recent floods. The economy is almost certain to contract in Q4 and weak global demand is likely to limit the rebound in manufacturing and exports next year. The upshot is that we expect Thailand’s repo rate to be lowered further and have pencilled in another 25bp cut in Q1.

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