Thailand Monetary Policy


Bank of Thailand keeps one-day repurchase rate unchanged

At its 6 August monetary policy meeting, the Bank of Thailand (BoT) decided to maintain the one-day repurchase rate at 2.00%. The decision, which was unanimous, was on par with market expectations. The one-day repurchase rate currently sits at its lowest level in almost four years. The next monetary policy meeting is scheduled for 17 September.

According to the Bank, the Thai economy gained momentum in the second quarter of 2014 amid a recovery in exports. On the other hand, public spending has shown signs of deceleration. However, the prospects for the second half of the year are positive. BoT said that, “firmer domestic demand and fiscal policy, particularly public investment, should lend further impetus to growth recovery.” However, tourism and exports are expected to expand at a subdued pace in the second half of the year. Regarding price developments, it stated that, “inflationary pressure remains contained.”

FocusEconomics Consensus Forecast panelists expect the one-day repurchase rate to end 2014 at 1.93%. In 2015, the panel expects the monetary policy rate to end the year at 2.33%.

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Thailand Monetary Policy Chart

Thailand Monetary Policy August 2014

Note: One-day repurchase rate, in %.
Source: Bank of Thailand (BoT).

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