Market Roundup 11 February 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,699.20 points, decreased 3.80 points or 0.22% with a trading value of 95 billion baht. The analyst stated that the Thai stock market, after a series of rallies, closed lower in the same direction of global markets as investors took profit from 70 index points surge. The higher-than-expected U.S. inflation and higher bond yields also pressure the stock markets as well.

In addition, the analyst expected SET Index to move in sideways trends next week with a movement range of 1,685-1,715 points.


2) UK economy grew 7.5% in 2021

The U.K. economy grew 7.5% in 2021, according to the official release on Friday, recovering from its historic 9.4% plunge in 2020 when the coronavirus first hit the group and also the fastest growth since the second world war.


3) Bank of Thailand expects to raise inflation forecast to 3.23%

The Bank of Thailand is considering raising its inflation forecast this year after the headline inflation rose to a nine-month high of 3.23 percent in January 2022.

BOT stated on Friday that the main inflation rate is projected to be higher than the bank’s prediction of 1.7 percent this year. The target inflation rate for the first half of 2022 is between 1-3 percent, before declining in the second half.


4) Goldman now projects seven rate hilkes this year

Economists at Goldman Sachs Group now expect the Federal Reserve to raise interest rates seven times this year to combat inflation. Their forecast earlier was at the five rates hike. The strategist’s view changed after U.S. CPI inflation gauge in January showed a 7.5% increase on an annual basis underscoring the biggest since 1982. Inflation number extended beyond volatile food and energy prices to household furnishings and even health insurance.