BOT Maintains Interest Rate at 2.50%

[snoop1130]

 

BANGKOK, Nov 29 (TNA) – The Bank of Thailand’s Monetary Policy Committee has decided to keep the policy interest rate at 2.50 percent, with the Thai economy projected to expand by 2.4 and 3.2 percent in 2023 and 2024, respectively.

 

Mr. Piti Disyatat, Secretary of the MPC announced the outcome of the meeting on Wednesday that the Committee voted unanimously to maintain the policy rate at 2.50 percent.

 

The Thai economy overall continued to recover, despite some slowdown in merchandise exports and related production.

 

Full story: Thai News Agency 2023-11-29

 

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[TroubleandGrumpy]

Thailand is caught between a rock and a hard place. Their current low interest rates which are about half the global average is not attractive to foreign currency investors, hence why more currency is leaving Thailand than is entering. However, the very high Public and Govt Debt to GDP ratios, means if they upped interest rates, this would have a very negative impact on economic growth.  Probably the wisest thing for BOT to do is stay still and wait for the world rates to drop.