OctaFX | OctaFX Forex Broker
Open trading account

Thailand: Massive growth forecast downgrade – ANZ

Today’s rate hold decision follows a 25bp rate cut at an unscheduled meeting on 20 March as well as measures jointly announced by the BoT, Finance Ministry and Securities and Exchange Commission on 22 March aimed at stabilizing financial markets, economists at ANZ Research brief.

Key quotes

“The Bank of Thailand (BoT) today kept its policy rate unchanged at 0.75%. The decision was not unanimous, with two members voting to cut the rate to 0.50%.” 

“The BoT today slashed its 2020 growth projection massively, from 2.8% to -5.3%.”

“We think a further rate cut to 0.5% is likely, while anything more will be difficult for banks to follow through.”


WTI uninspired by US stimulus led risk-on, trims gains to test $24

Easing global growth concerns following the US agreement on the coronavirus stimulus deal did lift the risk sentient, however, failed to boost the rec
Read more Previous

GBP/JPY jumps to near 2-week tops, further beyond 1.3300 mark

The buying interest around the British pound picked up pace in the last hour and lifted the GBP/JPY cross to two-week tops, closer to mid-133.00s. A c
Read more Next
Start livechat