Bank of Thailand

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

Bank of Thailand Interest Rate Left Unchanged

September 17, 2014

For a fourth straight time, the Thai central bank policy interest rate was kept unchanged at 2.0%, and no adjustement seems nearby.  The last one was a 25-basis point cut in March, which was the sixth such reduction since a peak of 3.5% between August 2011 and November 2011.  After the latest meeting, officials released […] More

Bank of Thailand Didn’t Cut Policy Interest Rate Further

June 18, 2014

Five 25-basis point reductions had been authorized between November 2012 and March 2014, but the previous meeting on April 23 voted 6-1 for keeping the 2.0% policy rate, with a single dissent in favor of a sixth cut.  Today’s decision not to change policy drew a unanimous vote and was accompanied by a statement that […] More