Thailand Oct CPI rose 3.9% YoY, up from 2.82% in Sep and above economists'
median 3.33%, driven by higher international oil prices and flood-related food
costs. The print exceeds the BOT's 1–3% target range for the first time in more
than three years, complicating the central bank's policy outlook. BOT is
maintaining a low policy rate to support still-weak domestic demand and says the
inflation spike appears temporary and does not yet justify an immediate hike.
The governor added the BOT would raise rates if growth accelerates and inflation
surprises on the upside, while calling the current 1% policy rate appropriate.
