Thailand Interest Rate  2000-2018 | Data | Chart | Calendar | Forecast

The Bank of Thailand voted unanimously to left its one-day repurchase rate unchanged at 1.5 percent on June 20th meeting, as widely expected. The Committee said that the current monetary policy stance continued to support economic growth and should support the increase of inflation rate toward its target. Annual inflation rate advanced to 1.5 percent in May from 1.1 percent in April and it is expected to rise at a slightly faster pace boosted by higher oil prices. Policymakers also added that the economy as a whole was projected to continue to gain further traction driven by external and domestic factors. Interest Rate in Thailand averaged 2.24 percent from 2000 until 2018, reaching an all time high of 5 percent in June of 2006 and a record low of 1.25 percent in June of 2003.

Thailand Interest Rate
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Thailand Holds Interest Rate Steady at 1.5%


The Bank of Thailand voted unanimously to left its one-day repurchase rate unchanged at 1.5 percent on June 20th meeting, as widely expected. The Committee said that the current monetary policy stance continued to support economic growth and should support the increase of inflation rate toward its target. Annual inflation rate advanced to 1.5 percent in May from 1.1 percent in April and it is expected to rise at a slightly faster pace boosted by higher oil prices.

Statement by the Bank of Thailand:

The Thai economy as a whole continued to gain further traction, driven by merchandise exports and tourism which continued to improve in tandem with global economic growth, and by stronger momentum from domestic demand. In particular, private consumption continued to expand, although elevated household debt and the economic expansion had yet to benefit household income and employment in a broad-based manner, resulting in a gradual improvement in purchasing power. In the Committee’s view, these issues must be addressed through structural policies. Private investment was projected to continue expanding with additional support from public investment projects whose prospects became more certain, although their progress in the period ahead must be monitored. Meanwhile, public expenditure would be a driver of growth but there remained risks of delays in budget disbursement. Furthermore, Thailand’s growth outlook was still subject to external risks that continued to warrant monitoring, especially US foreign trade policies and retaliatory measures from trading partners of the US, and geopolitical risks.

Headline inflation was projected to rise at a slightly faster pace than previously assessed toward target on the back of increases in oil prices. Core inflation was projected to edge up given gradual build-up in demand-pull inflationary pressures. Moreover, structural changes, such as an expansion of e-commerce and rising price competition, still warranted monitoring as they might contribute to more persistent inflation than in the past. Meanwhile, the public’s inflation expectations were largely unchanged. 

Overall financial conditions remained accommodative and conducive to economic growth with ample liquidity in the financial system. Overall government bond yields increased somewhat compared with the previous meeting, while real interest rates remained low. Such conditions allowed financing by the private sector to continue expanding with improvements seen in the amount of credit extended to SMEs and consumer loans. On exchange rates, the baht depreciated against the US dollar and experienced volatile movements due to the monetary policy outlook of advanced economies and increased concerns about trade protectionism measures as well as risks related to emerging market economies. Looking ahead, the baht would likely remain volatile. Thus, the Committee would closely monitor exchange rate developments as well as impacts on the economy going forward. 

Financial stability remained sound but there continued to be a need to monitor pockets of risks that might pose vulnerabilities to financial stability in the future. These included, in particular, the search-for-yield behavior in the prolonged low interest rate environment that might lead to underpricing of risks, and the deterioration in debt serviceability of households and SMEs, especially those affected by changes in structural factors and business models. 

Looking ahead, the Thai economy as a whole was projected to continue to gain further traction driven by both external and domestic factors. However, there remained the need to monitor the strength of the domestic demand and inflation developments in the period ahead, as well as impacts of trade protectionism measures which remained highly uncertain. Hence, the Committee viewed that monetary policy should remain accommodative.


Bank of Thailand | Stefanie Moya | stefanie.moya@tradingeconomics.com
6/20/2018 7:56:00 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-28 07:05 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-05-16 07:05 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-06-20 07:05 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-08-08 07:05 AM Interest Rate Decision 1.5% 1.75%
2018-09-19 07:05 AM Interest Rate Decision 1.75%
2018-11-14 07:05 AM Interest Rate Decision 1.75%


Thailand Money Last Previous Highest Lowest Unit
Interest Rate 1.50 1.50 5.00 1.25 percent [+]
Money Supply M0 1407501.00 1419698.00 1437578.00 280977.00 THB Million [+]
Money Supply M1 2000.90 2010.90 2061.00 365.90 THB Billion [+]
Money Supply M3 19540.20 19551.11 19551.11 5077.80 THB Billion [+]
Banks Balance Sheet 18761473.00 18774368.00 18841592.00 14874369.00 THB Million [+]
Foreign Exchange Reserves 212553.37 214700.00 215400.00 326.00 USD Million [+]
Loans to Private Sector 3970963.00 3940701.00 3987147.00 1701089.00 THB Million [+]
Deposit Interest Rate 1.40 1.40 13.67 1.00 percent [+]
Interbank Rate 1.58 1.58 5.41 1.35 percent [+]
Central Bank Balance Sheet 7684288.00 7674567.00 7684288.00 2103522.00 THB Million [+]


Thailand Interest Rate

In Thailand, interest rates decisions are taken by The Bank of Thailand’s Monetary Policy Committee. The main interest rate is the 1-day repurchase rate. This page provides - Thailand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand Interest Rate - actual data, historical chart and calendar of releases - was last updated on June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 5.00 1.25 2000 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 17.75 Jun/18
Mexico 7.75 Jun/18
Russia 7.25 Jun/18
Brazil 6.50 Jun/18
India 6.25 Jun/18
Indonesia 4.75 May/18
China 4.35 May/18
United States 2.00 Jun/18
Australia 1.50 Jun/18
South Korea 1.50 May/18
Canada 1.25 May/18
United Kingdom 0.50 Jun/18
Euro Area 0.00 Jun/18
France 0.00 Jun/18
Germany 0.00 Jun/18
Italy 0.00 Jun/18
Netherlands 0.00 Jun/18
Spain 0.00 Jun/18
Japan -0.10 Jun/18
Switzerland -0.75 Jun/18


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