The Bank of Thailand kept its policy rate at 1% and upgraded its 2026 and 2027 growth forecasts, with stronger exports and investment linked to the AI cycle underpinning the revisions. Policymakers also pointed to inflation risks tied to oil and El Niño, while maintaining an accommodative stance in the context of an uneven recovery. Markets are now focused on the next MPC meeting on 23 December for any change in guidance, even as external drivers such as moves in the US dollar, oil and gold remain central to the baht’s near-term direction.
A base case still assumes policy stays on hold in the near term, followed by a cumulative 50bp of hikes in 1H27 as the BoT normalises settings. In FX, USD/THB has edged off recent highs and a double-top formation remains in play, with daily momentum described as flat and the RSI easing. Immediate support is flagged at 33.62, then 33.25/30, while resistance is seen around 33.85/90.
Strategic Search Focus Areas
– Thai electronics exports growth stats
– Oil price trends / Brent crude volatility
– USD/THB technical behavior / double top stats
Planned Query Calls
Let’s do some query calls.
