1 Dec 2022 Emerging Asia Monitor India's Q3 was Deceptively Strong, Enough to Ensure a December Hike

The unwinding of Delta base effects in India led to a tolerable moderation in GDP growth, to 6.3% in Q3.

But statistical discrepancies flattered the headlines, and the bump in consumption is unrepeatable.

The BoT rate, of 1.25%, likely is the terminal level; its 2023 forecasts inadvertently will justify a pause.