Central bank may raise benchmark rate by 25 basis points by Q3
A woman walks past a KBank branch in Phaya Thai district, Bangkok. (Photo: Nutthawat Wicheanbut)
Global funds are ditching Thailand’s bonds due to political risks before the May 14 general election, but history suggests they may soon come rushing back.
Overseas investors have offloaded a net US$750 million of Thai debt this month, the biggest selloff in emerging Asia based on divergence from the 12-month average. Funds also sold the nation’s bonds prior to the previous elections in 2014 and 2019, but inflows then surged after the votes took place.
In the present “lame-duck session” before the elections, bonds and currencies face a…
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