Bank of Thailand

December 17, 2014

The previous four meetings of Thailand’s Monetary Policy Committee on April 23, June 18, August 6, and September 17 had retained a 2.0% benchmark interest rate and so did today’s, although the 5-2 vote included two cast in favor of a 25-basis point cut.  Officials at the Bank of Thailand released a statement whose majority  “judged that the current policy stance remains sufficiently accommodative given a steady path of economic recovery in 2015, and is consistent with long-term financial stability objective.”  Economic growth is now seen continuing at a “rate lower than formerly assessed” and subdued inflation is anticipated for “some period ahead” due to lower energy costs and generally softer demand pressure.  Six 25-basis point rate reductions were engineered between November 2011 and March 2014.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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