Monetary Policy Committee maintains policy rate at 2.50%

[webfact]

 

The Bank of Thailand’s Monetary Policy Committee (MPC) voted six to one to retain the policy rate at 2.50% for the fourth consecutive time, despite repeated calls from the government to lower it by 0.25% to help borrowers.

 

One MPC member did vote to cut the one-day repurchase rate by 0.25%.

 

According to the MPC’s statement, most committee members deem the current policy interest rate to be consistent with the economic situation, as well as being conducive to safeguarding macro-financial stability.

 

The Thai economy is projected to expand by 2.6% this year and 3.0% next. This year’s economic growth is being driven by stronger-than-expected domestic demand in the first quarter, continued recovery in tourism and the acceleration of fiscal budget disbursement during the second quarter, according to the statement.

 

Top Photo : Bank of Thailand

 

Full story: Thai PBS 2024-06-13

 

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[brianthainess]

3 hours ago, webfact said:

despite repeated calls from the government to lower it by 0.25% to help borrowers.

And get further into debt. 

[hotchilli]

5 hours ago, webfact said:

The Thai economy is projected to expand by 2.6% this year and 3.0% next

Dream on...

[Srikcir]

7 hours ago, webfact said:

One MPC member did vote to cut the one-day repurchase rate by 0.25%.

Likely the same member who has voted for a rate cut in the last four MPC meetings. The MPC seems to be the only agency that displays unintimidated consistency to economic policies. Unfortunately the Thavisin government has not.

[nobodysfriend]

The BOT did not bow to the pressure of the politicians . Bravo . Stay independent .

[John Drake]

Just gave the finger to Srettha again.

[john donson]

18 hours ago, nobodysfriend said:

The BOT did not bow to the pressure of the politicians . Bravo . Stay independent .

 

independent? same as all the other national banks that can print money out of thin air