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BOT to hold rates steady on Oct. 16, cut in Q1 2025

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Posted

Cross currency rates this morning:

USD  33.34

EUR  36.44

GBP  43.52

CND  24.20

From Reuters

The Bank of Thailand (BOT) will leave its key interest rate unchanged at 2.50% next week and for the rest of the year, according to a Reuters poll of economists who brought forward their first rate cut expectations by a quarter.
 
Inflation quickened in September to 0.61% from 0.35% in August but remained below the BOT's target range of 1-3%. However, median forecasts in the poll showed inflation will return to within the range this quarter.
 
Growth in Southeast Asia's second-largest economy has lagged its regional peers due to high household debt but is expected to improve with an increase in tourists and a pick-up in public spending supported by the government's digital wallet scheme.
 
A strong majority of economists, 24 of 28, in the Oct. 7-10 poll forecast the BOT to keep its benchmark one-day repurchase rate (THCBIR=ECI).
 

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