Thailand's April inflation slips to 2.27%

BoT also cut policy rates by 25 bps.

According to BBVA, Thailand's April inflation eases in April to 2.27% y/y (consensus: 2.35%) from 2.42% in March, with core inflation at 0.94% (well within the Central Bank's target of 0.5-3.0%).

BBVA also said that the Bank of Thailand cut its policy rate by 25 bps to 2.50% last Wednesday given a weaker growth momentum and subdued inflation.

"The government, however, had urged for a bigger move of at least 50 bps in order to hit the planned growth target of 4.2% - 5.2% in 2013 (BBVA forecast: 4.7%). We would not rule out further rate cuts if domestic demand stays weak and/or the currency appreciation resumes," BBVA said.

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