Thailand Interest Rate

The Bank of Thailand (BoT) will keep monetary policy accommodative to support economic recovery and remains ready to adjust policy settings as needed, the minutes of the central bank’s October 8 policy meeting showed on Wednesday. The committee stated that policy should remain accommodative and noted that the impact of earlier rate cuts was still feeding through to the economy. At the meeting, the monetary policy committee unexpectedly voted 5-2 to leave the one-day repurchase rate unchanged at 1.50%. The central bank has cut its key rate four times over the past year, for a total reduction of 100 basis points, to support the economy, which is grappling with US tariffs, high household debt, and a strong baht. The central bank expects economic growth of 2.2% this year and 1.6% next year. For the first half of 2025, the economy expanded by 3.0%. Last year’s growth of 2.5% lagged that of its peers.