Bank of Thailand Governor Vitai Ratanakorn said Thursday there is no rush to raise interest rates, adding that monetary policy alone cannot fix the structural issues holding back growth. The central bank held its benchmark rate at 1.00% in August and meets again on October 28, with the economy on track to expand roughly 2.3% this year.
Bank of Thailand Governor Vitai Ratanakorn told a business forum on Thursday that there is no rush to raise interest rates. He said monetary policy could not address the structural issues constraining the country's economic growth.
The central bank left its key interest rate unchanged at 1.00% in August. Policymakers will revisit the rate at their next review, scheduled for October 28. In the meantime, Vitai said the Thai economy is on track to grow about 2.3% this year.
Exports, he added, are expected to grow 17% to 18% this year, up from an earlier forecast of 14% expansion. On prices, Vitai said inflation would likely slow to around 2% in 2026, down from June's forecast of 2.8%.
Source: Investing.com
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