Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BANGKOK, Aug. 14 (Xinhua) — Thailand's central bank on Wednesday cut its key interest rate by 25 basis points, the fourth cut in 10 months, to support a sluggish economy amid weak private consumption and global trade tensions.
The Bank of Thailand's Monetary Policy Committee voted unanimously to cut the overnight repurchase rate to 1.5 percent from 1.75 percent, taking borrowing costs to their lowest since February 2023.
The central bank said in a statement that Thailand's economy is projected to grow this year and next in line with its previous estimate, but that U.S. trade policies will exacerbate structural problems and weaken competitiveness, especially for vulnerable small businesses.
Looking ahead, economic growth is expected to slow in the second half of the year due to the imposition of U.S. tariffs and a decline in short-term tourist arrivals due to increased regional competition, the statement said.
The central bank's monetary policy committee secretary, Sakkapop Panyanukul, said the monetary policy framework aims to maintain price stability, promote sustainable growth and preserve financial stability.
“The committee believes that monetary policy needs to be somewhat more accommodative to provide a favourable financial environment for business adjustment and help ease the burden on vulnerable groups,” S. Panyanukul said at a news conference.
The central bank also noted the importance of ensuring macro-financial stability given the limited room for policy maneuver. –0–
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