At its 2 May monetary policy meeting, the Bank of Thailand (BoT) decided to keep the one-day repurchase rate unchanged at 3.00%, in a decision widely expected by the market. The Bank's decision means that monetary authorities have left the main monetary policy rate unchanged for two consecutive meetings, following on two consecutive 25 basis-point rate cuts in November and January. In its statement, monetary officials argued that the recovery in the first quarter was faster than expected. Manufacturing production is showing signs of improvement and is expected to return to pre-flooding levels by the end of the second quarter. According to the BoT, "exports were expected to rebound sooner than previously assessed in tandem with the recovery in manufacturing production". Moreover, the Bank underlined that inflation fell considerably in April as a result of the high base of comparison recorded in the same month last year. However, monetary officials pointed out that "upward inflationary pressure in the period ahead remained". Finally, authorities acknowledged that while the recent accommodative stance has helped to shore up confidence, external factors continue to be a major risk to the growth outlook. The next monetary policy meeting is scheduled for 13 June.
Thailand Monetary Policy
Bank of Thailand stays put for second time
May 2, 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.