Bangkok, Aug 21 (TNA) – The Bank of Thailand’s Monetary Policy Committee (MPC) voted 6-1 to maintain its policy interest rate at 2.50% per annum.
Piti Disyatat, Secretary of the MPC, announced the decision on Wednesday.
The committee cited Thailand’s economic expansion in line with its forecast, driven by tourism and domestic demand. While exports have shown a gradual recovery, the overall inflationary trend is expected to return to the target range by the end of 2024.
A majority of the committee members believe that the current interest rate level remains appropriate to support the economy’s return to potential and to preserve financial stability. However, they will continue to monitor the impact of deteriorating asset quality on the overall financial and economic conditions.
The dissenting member advocated for a 25 basis point rate cut, citing the economy’s lower potential growth due to structural factors and the need to provide relief to borrowers. -819 (TNA)
