28 September 2023 Emerging Asia Monitor BoT Signals the End; We Maintain Our Q1 Rate-Cut Expectation

The BoT raised the policy rate by a further 25bp, to 2.50%, surprising the slim majority view for a pause.
Members have signalled the end of the cycle, saying that the current rate is now “appropriate”...
...We expect the BoT’s next move to be a cut, in Q1, as growth disappoints and deflation looms.

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