Currency near 34.80 to the dollar as low inflation points to BoT ending rate hikes
The Thai baht led losses amid mixed trade in most Asian currencies on Tuesday, as US economic data pointed to sluggish growth in the country’s services sector, strengthening the case for a pause in interest rate increases by the Federal Reserve next week.
The baht weakened as much as 0.7% and was trading close to 34.80 to the US dollar, logging its worst session in two weeks. That came after the May headline inflation rate dropped to 0.5% year-on-year — its lowest in 21 months — due to lower energy and food prices and a high base in 2022.
“Given subdued inflation, we continue to expect the Bank of Thailand to keep its policy rate unchanged for the remainder of…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
