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Friday, March 29, 2024

Central bank rates seen peaking soon in SE Asia

BoT likely to continue gradual rate increases to avoid disrupting recovery

Buildings along the Chao Phraya River in Bangkok on New Year’s Eve in 2022. (Photo: Nutthawat Wicheanbut)

MANILA: Southeast Asian central banks look like they are close to done fighting inflation using interest rates, with economists seeing the tightening cycle ending after 25- to 50-basis points of moves in the coming months.

Policymakers in Indonesia, Philippines and Thailand will each raise borrowing costs by a total half-point in the coming months before reaching their peak rates, according to median forecasts in a Bloomberg survey. Malaysia, meanwhile, will cap the rate hike cycle with one more quarter-point increase, the…

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