Market Update by SCBFM: 22 February 2024
- Financial market group Siam Commercial Bank estimates the baht's value today to move in a range of 35.85- 36.05 baht/dollar.
- Pat's value continues to strengthen. Yesterday, the Governor of the Bank of Thailand (BoT) confirmed that there will be no more policy interest rate cuts. Because lowering interest rates will not help to stimulate the factors that caused the economy to slow down this time.
- Minutes from a recent FOMC meeting indicated that a majority of the committee was concerned that cutting interest rates too quickly would prevent a slowdown in inflation. The panel still sees that the time is not yet ripe to cut interest rates.
- Chinese officials are beginning to develop plans to boost the private sector economy. This will further support the real estate sector.
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