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BoT - Appropriate To Pause Now

THAILAND

BoT Governor, Sethaput Suthiwartnarueput, has stated it is now appropriate to pause in terms of interest rates. He stated that the key policy rate is at neutral and that if growth and inflation evolve as expected, rates can stay where they are.

  • The central bank stands ready to act if conditions sway from the current projections. The Governor added that oil prices, the government's fiscal stimulus and el nino will all impact inflation in 2024. Inflation remains an area of concern for the BoT.
  • Growth is less of a concern as the recovery should be aided by government stimulus.
  • This shift to neutral comes after the +25bps hike earlier in the week. It also aligns with the rough sell-side consensus that the central bank is on hold for the remainder of 2023.
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