Bank of Thailand pauses rate hikes after inflation turns negative

Central bank cuts GDP forecasts amid signs of tension with government over fiscal stimulus

Bank of Thailand
The Bank of Thailand
George Johnson

The Bank of Thailand paused its tightening cycle after raising rates for over a year, as headline inflation turned negative in October.

The MPC’s decision came after it raised the policy rate in eight meetings in a row, for a total of 200 basis points since August last year. There are signs of tension between the central bank and the government over the prime minister’s planned fiscal stimulus.

The BoT’s monetary policy committee voted unanimously to hold the one-day repurchase rate at 2.5%

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