Thai policy rate adequate to handle risks, c.bank minutes from rate-cut meeting show
Recasts, adds details, link to minutes throughout
BANGKOK, Oct 30 (Reuters) -Thailand's policy interest rate is at an adequate level to address economic risks as therecovery is uneven and financial conditions have tightened, minutesof the Bank of Thailand's Oct. 16 monetary policy meeting showed on Wednesday.
At the meeting, the monetary policy committee unexpectedly voted 5-2 to cut the one-day repurchase rate THCBIR=ECI by 25 basis points to 2.25%, the first decrease since 2020. Two members voted to keep the rate steady.
The rate cut was expected to mitigate the risk that tighter financial conditions might hurt the economy by helping household debt deleveraging and reducing overall debt burdens, according tothe minutes released by the Bank of Thailand (BOT).
"The current policy rate remained adequate to address risks to the outlook for the economy, inflation, and financial stability," the minutes said.
The committee said there was gradual progress in household debt deleveraging. Thailand's household debt-to-GDP ratio was 89.6% at the end of the second quarter, or debt of 16.3 trillion baht ($483 billion), among the highest levels in Asia.
The committee decided the policy rate should remain neutral and consistent with economic potential, and it should not be so low thatfinancial imbalances would build up in the long term, the BOT had said after the meeting.
The next rate review is on Dec. 18.
The economy will be driven by domestic demand and tourism, the BOT said in a paper prepared for a policy forum that was set to start soon after the release of the minutes.
At the Oct. 16 meeting, the BOT raised its 2024 GDP growth forecast to 2.7 from 2.6% but trimmed its 2025 outlook to 2.9% from 3.0%. Last year's expansion of 1.9% lagged regional peers.
($1 = 33.7300 baht)
Reporting by Orathai Sriring; Editing by John Mair
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
