Economist at UOB Group Lee Sue Ann expects the Bank of Thailand (BoT) to maintain its policy rate at 2.00% at its meeting on August 2.

Key Quotes

The BoT is more confident of stronger growth momentum ahead, forecasting the Thai economy to grow at 3.6% in 2023 and further accelerate to 3.8% in 2024. Full year inflation is projected to return to its 1-3% target range this year and next at 2.5% and 2.4% respectively.

As such, we think the BoT will keep its policy rate unchanged for the rest of this year.