0433 GMT - The Bank of Thailand could deliver rate cuts every quarter this year, says J.P. Morgan economist Jin Tik Ngai in a note. Headline inflation rose 1.1% on year in February, while core CPI rose 1.0%. Although the inflation print was in line with the bank's expectations, J.P. Morgan lowers its 2025 headline inflation projection to 0.8% from 1.0%. This is due to a recent downshift in oil prices, which could push prices to below the BOT's 1%-3% target for most of the year, he writes. Besides tariff-led growth concerns, below-target inflation could also strengthen the case for additional policy easing, he says. J.P. Morgan continues to pencil in another 75 bps of rate cuts, once every quarter, taking the policy rate to 1.25% from 2.0%. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 00:33 ET (04:33 GMT)
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