The Monetary Policy Committee (MPC) of the Bank of Thailand (BoT) on Wednesday voted unanimously to maintain its policy rate at 2.5%, the highest level in a decade, following a series of rate hikes since August last year, with the 2024 GDP growth projected to be in the range of 3.2-3.8%.
The MPC, with one member absent from the meeting, reported that the Thai economy has continued to recover, despite some slowdowns in merchandise exports and related production.
Growth is expected to be more balanced in 2024 and 2025, driven by domestic demand, the tourism sector and a recovery in merchandise exports, said MPC secretary Piti Disyatat.
Mr Piti said the policy rate is in a neutral zone and could be maintained for an…
