Bank of Thailand

Bank of Thailand Holds Policy Rate at 1.5%

November 4, 2015

Monetary officials consider the current monetary stance sufficiently accommodative and appropriate.  A released statement declares, “headline inflation is projected to rise gradually, and to turn positive in the first quarter of next year. Meanwhile, deflationary risks remain contained as demand continues to expand and core inflation is still positive, consistent with medium-term inflation expectations of […] More

The Bank of Thailand Interest Rate Left Unchanged

September 16, 2015

There have been nine cuts of the one-day repo rate since November 2011, most recently in March and April of this year.  The current level, 1.50%, is just 25 basis points above the 66-year low hit in the Great Recession.  Thai monetary officials in their latest statement following a unanimous decision to keep policy unchanged […] More

Bank of Thailand Left Key Interest Rate Unchanged This Time

August 5, 2015

A statement released after Bank of Thailand officials decided unanimously not to change their 1.5% policy interest rate foresees gradual economic recovery, helped in part by a softer Thai baht, projects that inflation, which is now negative, will rise in the second half of this year and “judged that the conduct of monetary policy has […] More

A Very Strong U.S. Non-Manufacturing Purchasing Managers Survey

August 5, 2015

The dollar appreciated 0.5% against the yen, 0.4% relative to the Australian dollar, 0.3% vis-a-vis the kiwi and Swiss franc and 0.2% versus the euro.  The dollar is down 0.3% against sterling and 0.2% versus the Canadian dollar but unchanged vis-a-vis the yuan. Chinese (-1.7%) and Greek (-2.9%) stocks took another tumble.  In other stock […] More

Thai Monetary Policy Left Unchanged

June 10, 2015

In response to more sluggish economic growth as attested by only a 2.2% rise of real GDP between 4Q13 and 4Q15, the monetary policy committee (MPC) of the Bank of Thailand had cut the one-day repo rate twice earlier this year by 25 basis points each in March and April.  Even earlier, six reduction between […] More

A Still-Divided Bank of Thailand Policy Committee Cuts its Interest Rate Again

April 29, 2015

A 25-basis point cut in March had been Thailand’s first interest rate change in a year.  The vote, however, had been 4-3 to approve that drop, so analysts were not expecting a follow-up stimulus this soon.  This time, a 5-2 majority approved cutting the interest rate to 1.5%, lowest since June 2010, from 1.75%, and […] More

Central Bank of Thailand Officials Cut Key Interest Rate for First Time since March 2014

March 11, 2015

The decision to cut the interest rate to 1.75% from 2.0% was finely balanced.  The Monetary Policy Committee’s released statement devoted a lengthy paragraph to explaining the different views of the four-member majority and three-member minority. In the policy deliberation, the committee judged that the outlook of the Thai economic recovery is weaker than previously […] More

Bank of Thailand Keeps Status Quo after 5-2 Vote

January 28, 2015

Thailand’s policy interest rate will remain at 2.0%, its level since a 25-basis point cut last March.  A debate over the implications for inflation of lower oil prices is described in a released statement.  According to the 5-person majority that favored the present level of monetary accommodation over cutting the interest further, A marked fall […] More

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  […] More

Bank of Thailand Flags Risk of a Possible Additional Interest Rate Cut in the Future

November 5, 2014

The benchmark interest rate was left at 2.0%, its level since a 25-basis point reduction in March 2014.  That cut was the sixth such drop since November 2011, and a released statement revealed a dissenting vote in favor of easing policy now. The committee expresses concerns regarding greater downside risks from global growth and the […] More