Economic news
Thailand economic recovery uneven, central bank minutes from rate-cut meeting show
2024.10.29 22:32
BANGKOK (Reuters) – Thailand’s economic recovery is uneven and financial conditions have tightened, minutes of the Bank of Thailand’s Oct. 16 monetary policy meeting showed on Wednesday.
At the meeting, the monetary policy committee unexpectedly voted 5-2 to cut the one-day repurchase rate by 25 basis points to 2.25%, the first decrease since 2020. Two members voted to keep the rate steady.
The MPC deemed that the policy rate should remain neutral and consistent with economic potential, and it should not be at too low a level that would create build-ups of financial imbalances in the long term, the BOT had said after the meeting.
The next rate review is on Dec. 18.
