BOT Rate Hike May Be Too Little Too Late - Calyon

Forex News Bank of Thailand's widely expected 25bp rate hike to 3.50% yesterday "is one step in the right direction. However, BOT remains strongly behind the curve" and move may be "too little, too late," says Calyon. Says BOT reluctant to raise rates given political uncertainty, slowing economic growth, export squeeze. Adds may also be leaning on assumption that rising oil prices will correct and tame inflation later in year but this is a "risky bet for a central bank...particularly in Thailand" where economy oil-intensive. Tips 50bp hike in August if oil remains high in weeks ahead.