At its 21 March monetary policy meeting, the Bank of Thailand (BoT) decided to maintain the one-day repurchase rate unchanged at 3.00%. The move was broadly expected by the market and follows two consecutive 25 basis-point rate cuts in November and January. In its accompanying statement, monetary authorities acknowledged that economic activity is gaining traction, following the impact of the floods. According to the BoT, ?latest indicators pointed towards improvements in all key areas of the economy and manufacturing production remained on track to return to normal levels by the third quarter of this year.? In addition, monetary authorities pointed out that inflationary pressures remain at bay in the short-term, although upside risks persist amid rising global oil prices. Finally, monetary officials recognised that the current policy stance is appropriate in supporting recovery, while it is still consistent with keeping inflation in line with the BoT target. The next monetary policy meeting is scheduled for 2 May.
Thailand Monetary Policy
Bank of Thailand stays put
March 21, 2012
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Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.