At its 17 October monetary policy meeting, the Bank of Thailand (BoT) decided to cut the one-day repurchase rate by 25 basis points to 2.75%, in a move that was not expected by the market. The decision represents the first rate cut since officials slashed interest rates from 3.25% to 3.00% in January. In their statement, monetary authorities signalled that, although the economy expanded in the third quarter, feeble global demand continues to weigh on Thailand's external sector. The Bank underlined that the global economic outlook remains weak, despite further monetary easing in major economies. That said, the Central Bank acknowledged that global economic activity would gradually improve next year, but a substantial degree of uncertainty persists. Regarding price developments, the BoT noted that inflationary pressures remain contained and stated that "monetary policy easing was warranted to shore up domestic demand in the period ahead and ward off the potential negative impact from the global economy". The next monetary policy meeting is scheduled for 30 November.
Thailand Monetary Policy
Bank of Thailand unexpectedly cuts interest rates
October 17, 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.