Thailand Interest Rate

The benchmark interest rate in Thailand was last recorded at 2 percent. Interest Rate in Thailand is reported by the Bank of Thailand. Interest Rate in Thailand averaged 2.48 Percent from 2000 until 2014, reaching an all time high of 5 Percent in June of 2006 and a record low of 1.25 Percent in June of 2003. In Thailand, interest rates decisions are taken by The Bank of Thailand’s Monetary Policy Committee. The main interest rate is the 1-day repurchase rate. This page provides - Thailand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.00 2.00 5.00 1.25 2.00 | 2014/05 2000 - 2014 Percent Monthly

TO

Thailand Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-27 07:30 AM Thailand
Interest Rate Decision
2.25% 2.5% 2.5% 2.5%
2014-01-22 07:30 AM Thailand
Interest Rate Decision
2.25% 2.25% 2% 2%
2014-03-12 07:30 AM Thailand
Interest Rate Decision
2.0% 2.25% 2.0% 2.25%
2014-04-23 08:30 AM Thailand
Interest Rate Decision
2.0% 2.0% 2.0% 2%
2014-06-18 08:30 AM Thailand
Interest Rate Decision
2.0% 2.25%
2014-08-06 08:30 AM Thailand
Interest Rate Decision
2.25%
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Money Last Previous Highest Lowest Forecast Unit
Interest Rate 2.00 2014-04-23 2.00 5.00 1.25 2.00 2014-05-31 Percent [+]
Foreign Exchange Reserves 167447.45 2014-03-31 168080.99 189883.65 326.00 169762.73 2014-03-31 USD Million [+]
Loans to Private Sector 3522770.00 2014-02-28 3510093.00 3523191.00 1701089.00 3541614.30 2014-02-28 THB Million [+]
Money Supply M0 1198136.00 2014-02-28 1193483.00 1198136.00 280977.00 1206447.75 2014-03-31 THB Million [+]
Money Supply M1 1638.40 2014-02-28 1610.00 1662.30 365.90 1661.28 2014-03-31 THB Billion [+]
Money Supply M3 16219.32 2014-02-28 16128.86 16219.32 5077.80 16318.23 2014-03-31 THB Billion [+]
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Bank of Thailand Leaves Interest Rate Unchanged

At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.

Statement by the Bank of Thailand:

The global economy continued to recover, led by expansion in the major economies, particularly the US. Emerging market economies, meanwhile, showed signs of moderation. Growth in China decelerated from investment, with increased risks in the financial sector. In Asia, domestic demand slowed down while exports benefited further from a recovery in major economies.

Growth of the Thai economy in the first quarter of 2014 is expected to contract by more than previously assessed from domestic demand. Private investment and tourism have felt greater impact from political uncertainties. Exports of goods gradually improved but could not offset the overall subdued growth. Looking ahead, the prospect for economic recovery hinges importantly on the political developments. Economic expansion this year is expected to be lower than previous assessment, and driven mainly by exports. Inflationary pressure rose in line with expectations.

The committee deems prolonged political uncertainties to be the main cause for higher downside risks to growth. Financial conditions are accommodative, and are not hindering domestic spending. Current monetary policy remains appropriately supportive of the Thai economic recovery. 

The MPC thus voted 6 to 1 to maintain the policy rate at 2.0 percent per annum. One member voted to lower the policy rate by 0.25 percent, to sustain policy easing in supporting growth. The MPC will closely monitor economic and financial developments, and ensure that monetary policy stance continues to lend sufficient support to the economy.

Bank of Thailand | Isabel Felino | isabel.felino@tradingeconomics.com
4/23/2014 10:07:13 AM

RECENT RELEASES

Bank of Thailand Cuts Rate to 2%
At its March 12th 2014 meeting, the Bank of Thailand decided to cut the benchmark interest rate by 25 bps to 2 percent, as months of political unrest keep hurting the economy. The policy rate stands now at its lowest level since late 2010. Published on 2014-03-12

Bank of Thailand Leaves Monetary Policy Unchanged
Bank of Thailand decided on January 22nd to leave the benchmark interest rate unchanged at 2.25 percent. Although the central bank considers monetary policy stance is already quite accommodative enough, it cut GDP growth forecasts for 2013. Published on 2014-01-22


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
Bank of Thailand Cuts Rate to 2%  
At its March 12th 2014 meeting, the Bank of Thailand decided to cut the benchmark interest rate by 25 bps to 2 percent, as months of political unrest keep hurting the economy. The policy rate stands now at its lowest level since late 2010.
Thai Economy Expands 0.6% QoQ in Q4  
In the fourth quarter of 2013, the Thai economy advanced 0.6 percent over the previous quarter, far below the 2.7 percent growth rate recorded in the previous three-month period, confirming the impact of the protests on the economy.
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In the fourth quarter of 2013, the Thai GDP grew a meager 0.6 percent over a year earlier, down from 2.7 percent in the preceding quarter, as political unrest hurt demand, tourism and investment.
Bank of Thailand Leaves Monetary Policy Unchanged  
Bank of Thailand decided on January 22nd to leave the benchmark interest rate unchanged at 2.25 percent. Although the central bank considers monetary policy stance is already quite accommodative enough, it cut GDP growth forecasts for 2013.
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In the third quarter of 2013, Thailand’s GDP recorded the first expansion in three quarters and advanced 1.3 percent over the previous three-month period, as a surge in the manufacturing sector was enough to offset a drop in agriculture and construction.
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In the third quarter of 2013, the Thai economy expanded 2.7 percent over a year earlier, down from a 2.9 percent growth in the previous quarter. It is the slowest expansion in six quarters, mainly due to a drop in household consumption and investment.
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The Monetary Policy Committee of the Bank of Thailand decided on October 16th to leave the policy rate unchanged at 2.5 percent, citing uncertain global economic recovery and the delay in fiscal disbursement for infrastructure projects as key downside risks to the economy.
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