BOT deputy governor Piti Disyatat said at the IMF–WBG annual meetings in Bangkok that the reduced use of explicit forward guidance has not materially increased difficulty in predicting policy rates; economic shocks are the primary source of uncertainty. He said market participants should place greater weight on the macroeconomic backdrop to infer future rate moves. Piti added the BOT has never issued explicit rate-path guidance; its communication is forward-looking and highlights the factors it

BOT deputy governor Piti Disyatat said at the IMF–WBG annual meetings in Bangkok that the reduced use of explicit forward guidance has not materially increased difficulty in predicting policy rates; economic shocks are the primary source of uncertainty. He said market participants should place greater weight on the macroeconomic backdrop to infer future rate moves. Piti added the BOT has never issued explicit rate-path guidance; its communication is forward-looking and highlights the factors it monitors but stops short of projecting a specific policy-rate path.