Interest Rate in Thailand
Thailand - Interest Rate
Bank of Thailand stays put in May
At its 24 May monetary policy meeting, the Bank of Thailand (BoT) unanimously decided to keep the one-day repurchase rate at 1.50%, where it has been for nearly two years. The decision was in line with market expectations.
The Bank of Thailand had a more positive assessment of the economy at this month’s meeting. This view is in line with recently released GDP figures showing an acceleration in Q1 on the back of strong exports and tourism revenue, and more favorable weather conditions fueling farming income and supporting household expenditure. However, despite the improved economic panorama, inflationary pressures are still moderate, with lower inflation in April due to an ample harvest prompting food prices to fall. Inflation now stands substantially below the Central Bank’s 1.0%-4.0% target band for this year. As a result, the Bank decided against raising rates at this month’s meeting, in a bid to help inflation return to target.
The BoT is likely to keep rates on hold for the rest of the year. Economic activity will continue to grow at a broadly steady pace and inflation is expected to rise when the temporary effects on lower food prices fade, while remaining moderate. As a result, the Bank shouldn’t feel the need to loosen or tighten its monetary stance. The next monetary policy meeting will be held on 5 July.
FocusEconomics Consensus Forecast panelists expect the one-day repurchase rate to end 2017 at 1.51%. In 2018, the panel expects the monetary policy rate to end the year at 1.69%.
Thailand - Interest Rate Data
|Policy Interest Rate (%)||3.25||2.75||2.25||2.00||1.50|
5 years of economic forecasts for more than 30 economic indicators.
Thailand Interest Rate Chart
Source: Bank of Thailand.
|Bond Yield||2.48||-0.60 %||Jul 18|
|Exchange Rate||33.56||-0.38 %||Jul 18|
|Stock Market||1,572||-0.16 %||Jul 18|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 3, 2017
Consumer price growth in June came in barely above the zero percent mark, registering a 0.02% increase on a month-on-month basis, following the previous month’s 0.15% increase.
June 30, 2017
Manufacturing production unexpectedly swung up in May to 1.4% from the previous month’s revised 1.8% contraction (previously reported: -1.7%) and overshot market expectations of a 0.20% fall.
June 22, 2017
Thailand’s trade balance recorded a USD 0.9 billion surplus in May, which is significantly above the previous month’s USD 0.1 billion surplus.
June 2, 2017
In May, consumer prices increased 0.15% on a month-on-month basis, virtually matching April’s 0.16% increase.
May 31, 2017
In April, the trade balance recorded a USD 0.1 billion surplus.