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Bank Of Thailand Release Minutes From November Policy Meeting


The Bank of Thailand release the edited minutes from their monetary policy meeting held on 10 November 2021, when the Monetary Policy Committee voted unanimously to maintain the policy rate at 0.50%:

  • The Committee judged that "the pace of global economic recovery decelerated," while "volatilities in the global financial markets increased due to gradual normalization of monetary policy in AEs in light of economic recovery." They noted that "looking ahead, the global financial markets would remain highly volatile."
  • The outlook for 2021 and 2022 was more or less unchanged from the September meeting. The Committee noted that the economy "would expand in 2021 and 2022 at a pace close to the projection in the September meeting on the back of domestic spending that gradually recovered following the relaxation of containment measures.
  • On the inflation front, policymakers judged that it "would increase temporarily owing to supply-side factors, particularly energy prices which would likely decline by early next year. The cost pass-through of global energy prices was limited."
  • Click here to access the full document.

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