Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
On October 16th, the Bank of Thailand SG460 Grade C steel announced its decision to lower the benchmark interest rate by 25 basis points to 2.25%, which deviated from the predictions of most economists. However, this is currently the first interest rate cut since May 2020, aimed at reducing the debt burden on borrowers.
This interest rate cut is under SG460 Grade C steel pressure from the government to support economic development. Overall, the measures taken by the central bank reflect a delicate balance between stimulating economic activity and addressing high debt risks with the strengthening of the Thai baht, especially after the baht rose by 14% in the previous quarter.
Looking at Asia, the Philippine central SG460 Grade C steel bank has recently lowered its policy interest rate by 25 basis points to 6%, while Indonesia has chosen to maintain its policy interest rate of 6% to ensure stable growth in the face of global uncertainties.
Although the decision of the Bank of Thailand has not had a significant impact on the Thai baht at present, the overall expectation for economic recovery is optimistic. It is expected that Thailand's GDP growth will reach 2.7%, and tourism and exports are expected to accelerate the recovery process.
