Japan's underlying inflation measure accelerates to 3.2%
The September increase was the largest since October 2023, ahead of a BOJ meeting expected to leave interest rates at 1.25%.
Thai central bank leaves rate at 1.00% for fourth meeting
Growth and export forecasts were raised, while inflation projections and estimates for foreign tourist arrivals were lowered.
Thailand's monetary policy committee voted unanimously on October 28 to keep the one-day repurchase rate at 1.00%, marking a fourth meeting without a change. The decision was in line with a survey in which all 26 economists expected a hold.
Alongside the decision, the Bank of Thailand upgraded its economic growth projections to 2.4% for 2026 and 2.1% for 2027. Its June estimates were 2.3% and 1.8%, respectively. The bank pointed to stronger exports and private investment connected to technology and AI, but said growth was still below potential and the gains remained concentrated.
The bank's export outlook improved substantially: it expects growth of 22% in 2026, against an October projection of 17% to 18% and a June estimate of 14%. For 2027, the forecast was lifted from June's 4.6% to 15%.
Its headline inflation estimate for 2026 was trimmed from 2.2% earlier in October to 2.1%. The 2027 forecast was reduced from June's 1.4% to 1.3%. Expected foreign tourist arrivals were also revised down by one million in each year, leaving projections of 32 million for 2026 and 34.5 million for 2027.
Assistant Governor Don Nakornthab said rates could rise gradually to preserve policy space once the economy was sufficiently strong. Between October 2024 and February 2026, the bank made six cuts totaling 150 basis points, seeking to support weak domestic demand and an economy burdened by high household debt.
The decision prompted little movement in the baht. Policymakers are scheduled to meet again on December 23.