Thailand Monetary Policy


Thailand: Bank of Thailand keeps one-day repurchase rate on hold at 1.50%

September 16, 2015

At its 16 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to maintain the one-day repurchase rate at 1.50% as the markets had expected.

In its brief press release, the Bank commented that the Thai economy will likely recover in the third quarter. Exports continue to contract as a result of a slowdown in China and other economies in Asia. However, an improvement in tourism as well as increased public spending are compensating for weak external demand. Moreover, the recently-announced fiscal stimulus should provide further support to the economy.

Regarding price developments, the Bank said that inflationary pressures continue to decline due a slower-than-projected recovery in global oil prices. Looking forward, the BoT assessed that inflation, “is projected to stay in negative territory for the rest of 2015, before turning positive in the first quarter of 2016, later than previously assessed.” The next monetary policy meeting is scheduled for 4 November.

FocusEconomics Consensus Forecast panelists expect the one-day repurchase rate to end 2015 at 2.01%. In 2016, the panel expects the monetary policy rate to end the year at 2.35%.

Author:, Senior Economist

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Thailand Monetary Policy Chart

Thailand Monetary Policy September 2015

Note: One-day repurchase rate, in %.
Source: Bank of Thailand (BoT).

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