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BoT Rate Review Due This Week


Spot USD/THB has been creeping higher today and last changes hands +0.177 at THB35.747. Initial firm resistance is located at THB36.945, a cyclical high printed on Jul 21. Conversely, bears look for a clean break below the 50-DMA (THB35.513), which would give them a green light for targeting Jun 29 low of THB34.960.

  • Headline inflation unexpectedly moderated in July, data released Friday showed. Still, core prices grew at a faster than expected rate of +2.99% Y/Y, the quickest pace since Jun 2008.
  • Thailand's minimum wage will rise by about 5-8% this year amid rising inflation, the Daily News reported citing Ministry of Labour's permanent secretary Suttamanaswong. The trilateral wage-setting committee will meet later this month to discuss the matter.
  • The University of the Thai Chamber of Commerce will publish consumer confidence data tomorrow, before the BoT announces its monetary policy decision on Wednesday.
  • 23 of the 26 economists surveyed by Bloomberg expect the Bank of Thailand to lift the key policy rate by 25bp this week, while the three dissenters have forecast a 50bp rate rise.

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