BoT Releases Minutes Of Most Recent MPC Meeting

The Bank of Thailand released the edited minutes of its monetary policy meeting held earlier this month, during which the Committee voted 5-2 to keep the key rate unchanged at 2.50%. The two dissenters voted to cut the rate by 25bp.

• The MPC judged that the economy was likely to slow in 2024 due to weaker exports and manufacturing activity amid softer global demand. Domestic demand is seen as a "key engine of the economy."
• Members judged that inflation remained subdued thanks to supply factors and was expected to return to the target range at a "slower-than-expected pace." They expect inflation to stabilise close to +1.0% Y/Y in 2024 before gradually picking up in 2025.
• "Most Committee members agreed that maintaining the policy interest rate at the current neutral level would help promote sustainable economic growth, which would require financial stability as a key pillar."
• Click here to see the full document.