Deposits
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Bracing for higher interest rates
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Escalating trade wars and political tensions weigh on global economy. In Thailand, risks to economic growth expected to support policy rate cuts.
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The MPC delivered a 25-bps cut, bringing the policy rate to 1%. In line with the BOT’s stated stance, we expect the policy rate to remain steady throughout 2026, unless a significant negative shock materializes.
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FOMC adjusts new rate forecast lower. EU hits Chinese EVs with new tariffs. Retaliation by China may trigger greater global trade protectionism
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The MPC holds the policy rate at 1.00%, viewing policy adjustment as a risk to growth–inflation dynamics,
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Falling interest rates have helped to ease financial conditions in advanced economies since mid-2019
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Global: Rate hike cycle will end soon; restrictive policies will continue to dampen growth
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US: March rate hike is a done deal, possibly five hikes this year, given more persistent inflation, rapidly-rising wages, and a solid job market.
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Global growth is slowing down; IMF slashed global growth outlook amid higher inflation, rising interest rates, Ukraine war, and China’s strict covid policy
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Total remittances are expected to drop by between 9.9% and 18.6% from baseline in 2018
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