Thailand’s economy reported stronger-than-expected growth in Q1 2024, driven by robust tourism and private consumption. The GDP rose by 1.5% YoY and 1.1% QoQ, outpacing expectations. This growth reduces the urgency for the central bank to cut interest rates, despite previous government calls for lower borrowing costs. The Thai baht appreciated following the release of the GDP data, which may further ease the pressure on the central bank at its upcoming meeting in June.