At its 25 July monetary policy meeting, the Bank of Thailand (BoT) decided to keep the one-day repurchase rate unchanged at 3.00%, in a decision in line with market expectations. The Central Bank's decision means that monetary officials have left the main monetary policy rate unaltered for three consecutive meetings, following on two 25-basis point rate cuts in November and January. The Central Bank stated that the global economy is showing sings of cooling and that a resolution of the Eurozone debt crisis remains difficult to identify. On the domestic front, the Bank acknowledged that economic growth is gradually recovering from last year's flooding, underpinned by accommodative monetary policy, strong credit growth and government stimulus measures. The Bank explained that these measures should continue to sustain private consumption and investment. Regarding price developments, monetary authorities underlined that inflationary pressures remain at bay. Officials pointed out that "with economic growth close to potential and inflation within target, the MPC deemed that the overall macroeconomic policy mix was appropriate". Finally, authorities evaluated the recent stance as "accommodative enough" in order to shore up economic growth going forward. The next monetary policy meeting is scheduled for 5 September.
Thailand Monetary Policy
Bank of Thailand stays put for third straight meeting
July 25, 2012
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Thailand Monetary Policy Chart
Note: One-day repurchase rate in %.
Source: Bank of Thailand (BoT).
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.