The Bank of Thailand left its key policy rate unchanged at an all-time low of 0.5 percent on September 23rd 2020, as widely expected. Policymakers upgraded its 2020 GDP outlook and now expect the economy to shrink 7.8 percent this year compared to an 8.1 percent drop earlier estimated. However, the 2021 expansion was revised lower to 3.6 percent from 5 percent. Consumer prices are expected to fall at a slower 0.9 percent in 2020 (vs -1.7 percent in the earlier estimate) and to rise ata faster 1 percent in 2121 (vs 0.9 percent). The central bank also said it remained ready to use appropriate monetary policy tools if necessary and that fiscal policy should play a major role in helping the economy.

Interest Rate in Thailand averaged 2.12 percent from 2000 until 2020, reaching an all time high of 5 percent in June of 2006 and a record low of 0.50 percent in May of 2020. This page provides - Thailand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Thailand Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Bank of Thailand

Interest Rate in Thailand is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Thailand to stand at 0.25 in 12 months time. In the long-term, the Thailand Interest Rate is projected to trend around 0.75 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Thailand Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.50 5.00 0.50 2000 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-05-20 07:05 AM 0.5% 0.75% 0.5% 0.5%
2020-06-24 07:05 AM 0.5% 0.5% 0.5% 0.5%
2020-08-05 07:05 AM 0.5% 0.5% 0.5% 0.5%
2020-09-23 07:05 AM 0.5% 0.5% 0.5% 0.5%
2020-11-18 07:05 AM 0.5% 0.25%
2020-12-23 07:05 AM 0.5%


News Stream
Thailand Leaves Rates Steady, Sees Weaker Recession
The Bank of Thailand left its key policy rate unchanged at an all-time low of 0.5 percent on September 23rd 2020, as widely expected. Policymakers upgraded its 2020 GDP outlook and now expect the economy to shrink 7.8 percent this year compared to an 8.1 percent drop earlier estimated. However, the 2021 expansion was revised lower to 3.6 percent from 5 percent. Consumer prices are expected to fall at a slower 0.9 percent in 2020 (vs -1.7 percent in the earlier estimate) and to rise ata faster 1 percent in 2121 (vs 0.9 percent). The central bank also said it remained ready to use appropriate monetary policy tools if necessary and that fiscal policy should play a major role in helping the economy.
2020-09-23
Thailand Leaves Monetary Policy Unchanged
The Bank of Thailand left its key policy rate unchanged at a an all-time low of 0.5 percent on August 5th 2020, as widely expected. Policymakers said that the economy would gradually recover in line with the relaxation of the containment measures. The Committee noted that the extra accommodative monetary policy since the beginning of the year as well as the fiscal, financial, and credit measures additionally announced helped to cushion the impact of the coronavirus crisis and would support the economic recovery. Policymakers projected that the headline inflation would remain negative in 2020, to then rise toward the target in 2021. The Committee added that they will continue to monitor developments of economic growth, inflation, and financial stability, together with associated risks, including external risks and the impact of the outbreak and added that would stand ready to use additional appropriate monetary policy tools if necessary.
2020-08-05
Thailand Leaves Rate Steady, Sees Bigger GDP Contraction
The Bank of Thailand left its key policy rate unchanged at a record low of 0.5 percent on June 24th 2020, making a pause on the policy tightening trajectory after three rate cuts so far this year. The decision came in line with market expectations. The central bank lowered its 2020 forecasts: the GDP is seen shrinking 8.1 percent compared to a 5.3 percent drop projected in March and the inflation is seen falling to -1.7 percent (-1 percent in March). Policymakers added that the bank is ready to use its appropriate monetary policy tools if necessary.
2020-06-24
Thailand Slashes Interest Rate to Record Low
The Bank of Thailand cut its key policy interest rate by 25bps to 0.5 percent on May 20th 2020, matching market forecasts. It is the third rate cut so far this year, bringing borrowing costs to a record low since at least 2000, aiming to help the economy offset the coronavirus impact as the GPP, tourism and domestic demand are seen falling more than initially anticipated. The economy shrank 1.8 percent in Q1 2020, the worst economic downturn since Q4 2011. Policymakers also showed concerns about the baht strength and said they were ready to use its tools as appropriate.
2020-05-20

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.