Thai central bank stands pat to assess impact of political instability

Bank of Thailand balances growth and risk by keeping policy rate at 2.5%

20240820 bank of thailand

According to a Reuters poll, 24 out of 27 economists expected the central bank to stand pat, while the rest saw a 25 basis point rate cut. © Reuters

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

BANGKOK -- Thailand's central bank kept the benchmark one-day repurchase rate unchanged at 2.5% at its monetary policy meeting on Wednesday, aiming to balance economic growth and risks as well as evaluating possible political risks that could affect the country's economy.

"The majority of the Committee deems that the current policy interest rate is consistent with the economy converging to its potential, as well as conducive to safeguarding macro-financial stability," Piti Disyatat, assistant governor for monetary policy at the Bank of Thailand, told reporters.

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