Money in Thailand

Thailand Money | Economic News & Forecasts

Thailand - Money

Central Bank hikes rates further in September; hints at further tightening ahead

At its 28 September meeting, the Monetary Policy Committee (MPC) of the Bank of Thailand (BoT) hiked the policy rate to 1.00% from 0.75%. The move marked the second consecutive increase and was unanimous.

The Bank decided to tighten its stance further due to elevated inflation. The BoT expects inflation to come in at 6.3%, on average, in 2022 before returning to the 1.0–3.0% target band in 2023. Next year, the Bank expects inflation to average 2.6%, thanks to easing supply-side pressures and falling oil prices. Space for the hike was provided by a solid economic recovery, fueled by household spending and a rebounding tourism sector.

In its communiqué, the Bank stated that “the policy rate should be normalized in a gradual and measured manner to the level that is consistent with sustainable growth in the long term”. This implies further hikes, in line with our panelists’ expectations.

The next monetary policy meeting is scheduled for 30 November.

FocusEconomics Consensus Forecast panelists currently project the policy rate to end 2022 at 1.08% and 2023 at 1.67%.

Thailand - Money Data

2015   2016   2017   2018   2019  
Money (annual variation in %)5.7  4.8  9.4  2.8  5.7  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Thailand Money Chart

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

Thailand Facts

Value Change Date
Exchange Rate30.110.17 %Dec 30

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.


Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form