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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THB
Spot USD/THB trades at THB30.010, marginally below neutral levels, after the BoT took a unanimous decision to leave its benchmark policy rate unchanged, with little to rock the boat in the accompanying statement.
- The decision was widely expected amid a broader belief that Thailand's central bank has limited monetary policy space at its disposal. The statement featured a familiar phrase noting that policymakers sought "to preserve the limited policy space to act at the appropriate and most effective timing."
- Policymakers acknowledged that the economy will grow slower than expected, but added that the negative impact of fresh Covid-19 restrictions will be more moderate than last year.
- The BoT also said that reducing the contribution of lenders to the Financial Institutions Development Fund remains an option. This comes after a reduction implemented last April for a period of two years.
- Bears look for a dip through Feb 1 low of THB29.888 before taking aim at Jan 4 & 5 lows of THB29.840. Conversely, a break above the 50-DMA at THB30.072 would clear the way to Jan 18 high of THB30.125.
- FinMin Arkhom Termpittayapaisith gives a speech on Covid-19 vaccination programme & the economic recovery.
- The University of Thai Chamber of Commerce will publish its consumer confidence gauge later today, with the latest CPI report coming up on Friday.
Bank of Thailand
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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