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Bank of Thailand Cuts Interest Rate to Bolster Economy Amid Slow Growth

Elena by Elena
28/02/2025
in Central Bank
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The Bank of Thailand (BoT) lowered its key interest rate by 0.25 percentage points on Wednesday, responding to mounting pressure from the government to support the slowing economy and weaken the Thai baht to boost exports.

Key Details:

The central bank‘s Monetary Policy Committee voted 6-1 to cut the one-day repurchase rate to 2%, citing clearer downside risks to economic growth.

The BoT revised its economic outlook, warning that growth would be slower than expected due to structural issues in the industrial sector, foreign competition, and rising global trade tensions, despite support from domestic demand and tourism.

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The decision followed a call from the Thai cabinet on Tuesday for rate cuts to keep inflation within the 1-3% target range.

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The International Monetary Fund (IMF) also recently recommended lower rates to ease borrowing costs and improve debt repayment capacity.

Thailand’s economy expanded just 2.5% in 2024, below the 2.9% consensus forecast and half the growth rate of neighboring Indonesia.

Market Reaction:

The Stock Exchange of Thailand index climbed 1.6% following the announcement, while the Thai baht remained stable at 33.7 per US dollar.

Outlook:

The rate cut signals the BoT’s shift toward a more accommodative policy, but further easing may be necessary as the government seeks to stimulate growth in the face of global economic headwinds.

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Elena

Elena

Elena, a seasoned foreign exchange trader with a proven track record in the dynamic world of currency markets, brings a wealth of expertise and professionalism to the financial realm. With an extensive background spanning over a decade, she has honed her skills in analyzing global economic trends and implementing strategic trading solutions. Known for her meticulous attention to detail and analytical prowess, Elena has navigated through volatile market conditions with finesse, consistently delivering impressive results for her clients. Her comprehensive understanding of macroeconomic indicators, coupled with a keen awareness of geopolitical events, allows her to make informed decisions that optimize trading portfolios. Elena's commitment to staying ahead of the curve is evident in her continuous pursuit of knowledge and mastery of cutting-edge trading technologies. Her disciplined approach to risk management ensures prudent investment strategies, instilling confidence in both colleagues and clients alike.

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