Krungsri expects the MPC to hold interest rates at 2.50% until the end of 2024.

Bangkok, Krungsri Global Markets Indicates that the value of the baht has moved slightly to 36.70 baht/US dollar after the MPC maintained interest rates. It is expected that the MPC will hold interest rates at 2.50% until the end of 2024.

Global Markets Group Bank of Ayudhya Public Company Limited revealed that after the committee Monetary Policy (MPC) by the Bank of Thailand (BoT) voted 6 to 1 to maintain the policy interest rate at 2.50% per year. It was found that after the announcement of maintaining the interest rate The baht moved slightly to 36.70 baht per US dollar. Overall this year, the value of the baht has weakened by 7.3%, which the MPC stated that the baht has weakened relative to the dollar. This is a result of expectations about the Fed’s monetary policy outlook. and domestic factors

The next meeting of the Monetary Policy Committee will take place on August 21, 2024. From the attitude of this meeting, A majority of the Committee viewed that the current level of the policy interest rate was
consistent with economic growth and inflation trends. including long-term economic and financial stability Meanwhile, we will keep a close eye on the recovery of the export sector and various government measures, reinforcing the implementation of monetary policy in an Outlook Dependent manner, which supports Krungsri’s view. Global Markets said the MPC will hold the policy interest rate at 2.50% for the rest of this year. If various trends do not change significantly.

Source: Thai News Agency

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