BANGKOK :Thailand’s monetary policy should remain accommodative to support an economic recovery, the minutes of the Bank of Thailand’s October 8 policy meeting showed on Wednesday.
At the meeting, the monetary policy committee unexpectedly voted 5-2 to leave the one-day repurchase rate unchanged at 1.50 per cent.
The central bank has cut its key rate four times over the past year to support Southeast Asia’s second-largest economy, which is grappling with U.S. tariffs, high household debt, and a strong baht.
The central bank expects economic growth of 2.2 per cent this year and 1.6 per cent next year. Last year’s growth of 2.5 per cent lagged peers.
Governor Vitai Ratanakorn, who took office at the start of October, has said interest rates could be cut if needed to lift inflation and growth.
The next policy review is on December 17, and some economists expect a further rate reduction.
