Money in Thailand

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Thailand - Money

Bank of Thailand leaves one-day repurchase rate on hold in February

At its 15 February monetary policy meeting, the Bank of Thailand (BoT) unanimously decided to keep the one-day repurchase rate at 1.50%, where it has been for over two years. The latest monetary policy announcement was in line with market expectations.

The decision to keep rates on hold reflected the Bank’s view that the current monetary stance is consistent with its inflation and financial stability objectives. A lax monetary policy has created accommodative conditions in the domestic financial market, spurring growth in credit and overall economic activity. The Bank’s latest projections show that GDP growth in Q4 likely picked up steam on the back of improving overseas demand, growth in fixed investment and public spending. Faster economic activity is exerting upward price pressures, although inflation remains below the target range of 1.0%–4.0% (January: 0.8%).

Forward guidance was scant in the press statement. The BoT commented that monetary conditions will remain accommodative going forward, subject to change only if financial conditions deteriorate, as inflation remains below its target range.

The next monetary policy meeting will be held on 29 March.


Thailand Interest Rate Forecast


FocusEconomics Consensus Forecast panelists expect the one-day repurchase rate to end 2018 at 1.51%. In 2019, the panel expects the monetary policy rate to end the year at 1.76%.

Thailand - Money Data

2012  2013  2014  2015  2016  
Money (annual variation in %)13.0  3.9  -     -     -     

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Thailand Money Chart


Thailand Money
Note: Annual variation of M1 in %.
Source: Bank of Thailand and FocusEconomics calculations.

Thailand Facts

ValueChangeDate
Bond Yield2.450.0 %Apr 19
Bond Yield2.450.0 %Apr 19
Exchange Rate31.190.17 %Apr 19
Exchange Rate31.190.17 %Apr 19
Stock Market1,795-1.41 %Apr 19
Stock Market1,795-1.41 %Apr 19

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