Interest rate cuts expected to start in second half of 2024, says BMI
PUBLISHED : 6 Dec 2023 at 04:00
As expected, the Monetary Policy Committee of the Bank of Thailand (BoT) voted unanimously to leave its benchmark policy interest rate unchanged at 2.50% on Nov 29. Financial conditions are already at their tightest since 2013 after the central bank lifted rates by a cumulative 200 basis points since August 2022, notes BMI, a Fitch Solutions company.
BMI says it is maintaining its expectations that the tightening cycle is over and there are few reasons to believe otherwise. “[BoT governor Sethaput Suthiwartnarueput] has explicitly stated that interest rates have already reached the…
