KASIKORNBANK Economic and Subsidiaries Performance Overview
K
KASIKORNTHAI
Thailand Economic Figures
บริการทุกระดับประทับใจ
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
K
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Currency and Interest Rate Outlook (as of 27 September 2023)
USD/THB: End Period
Interest Rate Trend
Bt
332
371
33 30,60
32.68
135.97 35.84
32.91
32.66
32.55
29.98
29.95 33.41
34.633.50-34.00
10.00
Fed Funds rate
BOT's 1-Day Repurchase rate
5.00
2.25
2.00
1.50
1.50
1.50
0-0.25 0-0.25 0.25-0.50 0.50-0,75 1.25-1.50 2.25-2.50 1.50-1.75 0-0.2550 0-0.29.50
1.50
1.25
4.25-4.50
1.25
5.25-5.50
2.50
29
0.00
Dec-13 Dec-14
Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Dec-20
Dec-21
Dec-22 Dec-23F
4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22F 4Q23F
USDT HB
■ Baht weakened to Bt35.00 per USD with USD
resurgence and Thai internal factors
■ However, at 2023 year-end, Baht could reach
Bt33.50-34.00 per USD, as the Thai economy
continues to recover, thanks to strong support
from tourism recovery
■Fed hiked 25bps in July to 5.25-5.50% after a pause
in June with a neutral tone depending on data
Fed's interest rate at the end of 2023 expected to be
5.25-5.50% as Fed's hawkish tone fades
■ BOT's interest rate would be near neutral with a
data-dependent method, while inflation continues to
drop below BOT's target range for 3 consecutive
months
■ BOT's interest rate expected to remain at 2.50%
year end 2023
Note: F is estimated by KBank Capital Markets Research (as of September 27, 2023)
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