Thailand Monetary Policy

Thailand

Thailand: Bank of Thailand keeps one-day repurchase rate unchanged again in November

November 4, 2015

At its 4 November 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 is expected to have recovered in the third quarter on the back of stronger domestic demand. In fact, private consumption for non-durable goods, services and private investment most likely improved in Q3 over the previous quarter. Nevertheless, recent data point to contracting exports in the third quarter as a result of a slowdown in China and other economies in Asia. Looking forward, the government’s recently-approved fiscal package should provide some support for 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 rise gradually, and to turn positive in the first quarter of next year.” The next monetary policy meeting is scheduled for 16 December.

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 November 2015

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


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