Stronger-than-expected Q2 GDP figures this week and the Bank of Thailand’s (BoT) increasingly hawkish rhetoric suggest a 25bp rate hike is likely at its next meeting on 19th September. However, with inflation likely to remain benign and growth set to slow in the quarters ahead, we suspect it will be a case of "one and done". Meanwhile, Malaysia’s prime minister ended his five-day trip to China with confirmation that the Chinese-backed East Coast Rail Link and two oil pipelines have been cancelled.
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