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The Bank of Thailand may keep the policy interest rate unchanged at 2.00% on Wednesday, and OCBC Bank expects a cumulative rate cut of 50 basis points in the second half of the year.

Economists from OCBC Bank pointed out in a report that the Bank of Thailand may maintain the policy interest rate at 2.00% during Wednesday's (policy meeting). Analysts stated that Thailand's GDP growth in the first quarter could remain resilient; additionally, an earlier export to the US may support growth in the second quarter. The Institutions added that the more proactive orientation of fiscal policy has reduced the necessity for immediate support from monetary policy. The report mentioned that the Thai government has indicated it will increase fiscal support whenever there are significant downward risks to economic growth. However, OCBC Bank believes there is further room for easing monetary policy in the coming months and expects 2024.

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