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. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.00 2.25 5.00 1.25 2.00 | 2014/04 2000 - 2014 Percent Monthly

TO

Thailand Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-16 08:30 AM Thailand
Interest Rate Decision
2.5% 2.5% 2.5% 2.5%
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%
2014-06-18 08:30 AM Thailand
Interest Rate Decision
2.25%
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Money Last Previous Highest Lowest Forecast Unit
Interest Rate 2.00 2014-03-12 2.25 5.00 1.25 2.00 2014-04-30 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 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.

Statement by the Bank of Thailand:

The global economy continued to recover from the last meeting, led by the major economies. The Chinese economy expanded steadily, with some sign of moderation in investment. Asian economies’ exports benefited from a recovery in major economies. Domestic demand in ASEAN economies moderated from private investment and public spending. 

Growth of the Thai economy slowed through the final quarter of 2013 and January 2014 from domestic demand amid lower private confidence. Tourism has felt more impact from the ongoing political situation. Prolonged political uncertainties would continue to impede the recovery of private consumption and investment. Nonetheless, exports of goods should gradually improve on the back of a recovery in major economies, providing impetus to growth this year. 

The committee judges that downside risks to growth have risen in the wake of prolonged political situation. Core inflation has edged up, but remains subdued. Monetary policy has some scope to ease, in order to lend more support to the economy and ensure continuous financial accommodation. The MPC thus voted 4 to 3 to reduce the policy rate by 0.25 percent, from 2.25 to 2.00 percent per annum, with immediate effect. Three members voted to maintain the policy rate at 2.25 percent per annum. In their judgment, current monetary policy stance remains accommodative while the main headwinds to growth are not financial in nature. Monetary policy should be used when it is effective in supporting the economic recovery. 

Bank of Thailand | Joana Taborda | joana.taborda@tradingeconomics.com
3/12/2014 8:52:54 AM

RECENT RELEASES

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

Bank of Thailand Cuts Rate by 25 bps
Bank of Thailand decided on November 27th to cut the benchmark interest rate for the second time this year to 2.25 percent, as the current political situation threatens investor confidence and the delay in government spending poses downside risks to growth. Published on 2013-11-27


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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