Thailand: A rate hike by the BoT is not ruled out in August – UOB

Lee Sue Ann, Economist at UOB Group, suggests the Bank of Thailand (BoT) could hike its policy rate at any time in the next three meetings.

Key Quotes

“The BOT still has three more MPC meetings scheduled for 2022 (Aug, Sep, Nov), and we are of the view that it will hike only in Nov by 25bps to continue entrenching the negative real rates in support of the economic recovery.”

“However, we are not ruling out a rate hike in Aug or Sep, should economic growth continue to show steady momentum and especially if inflationary pressure remains stubbornly high.”