Thai central bank holds key rate at 2.25%

Unchanged key economic data, risks signal no need to cut rate

The Bank of Thailand is expecting an average headline inflation at 0.4% in 2024 and 1.1% in 2025 as global oil prices were expected to remain at relatively low levels. © Reuters

APORNRATH PHOONPOHNGPHIPHAT, Nikkei staff writer

December 18, 2024 16:10 JST

Updated on December 18, 2024 17:36 JST

BANGKOK -- The Bank of Thailand (BoT) kept its key interest rate unchanged at 2.25% in the last meeting of 2024 on Wednesday as the economy showed signs of maintaining momentum in the last quarter of the year supported by hefty tourism and exports.

That matched a Reuters poll which listed 28 of 30 economists forecasting the BoT to hold the rate steady as they saw no need to apply monetary easing in the peak season when the economy normally is well-supported by rising consumption and tourism.