Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
No Result
View All Result
Home Other News

Thai central bank holds key rate as expected, as govt presses for cut

Renton Campoy by Renton Campoy
August 13, 2024
in Other News
0
Share on FacebookShare on Twitter

© Reuters. FILE PHOTO: Thailand’s central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE SEARCH BUSINESS WEEK AHEAD JUNE 27 FOR ALL IMAGES/File Photo

By Orathai Sriring and Kitiphong Thaichareon

BANGKOK (Reuters) – Thailand’s central bank left its key interest rate unchanged for a second straight meeting on Wednesday, as expected, resisting government pressure to reduce borrowing costs to help revive faltering growth.

The Bank of Thailand’s (BOT) monetary policy committee in a 5-2 vote decided to hold the one-day repurchase rate at 2.50%, the highest in more than a decade.

Related Post

Nexen tire supplies hyundai’s next generation hydrogen suv

NEXEN TIRE Supplies Hyundai’s Next-Generation Hydrogen SUV

July 12, 2025
Tyron runflat grips the blue light sector

Tyron Runflat Grips the Blue-Light Sector

July 12, 2025

Prometeon Celebrates Successful Return to RTX

July 11, 2025

Ryan Reed Announced Goodyear Vice President

July 11, 2025

It had raised the rate by 200 basis points since August 2022 to curb inflation. Two members voted for a cut of 25 basis points.

All 27 economists in a Reuters poll had predicted the BOT would the rate steady on Wednesday, while saying the first rate cut was more likely to come earlier than they expected.

“The current policy interest rate is consistent with preserving macro-financial stability,” the BOT said in a statement.

“Most members thus voted to maintain the policy rate at this meeting. Two members voted to cut the policy rate by 0.25 percentage point, to reflect a lower potential growth as a result of structural challenges.”

The central bank said it stood ready to adjust rates as appropriate.

It said the economy was growing slower than expected and would be supported by domestic demand, though structural impediments, particularly deteriorating competitiveness, would further hamper growth.

The baht was down slightly at 35.580 after the announcement.

The decision will be a disappointment for the government, coming a day after Prime Minister Srettha Thavisin called again for a rate cut to jumpstart Southeast Asia’s second-largest economy, which he has described as in crisis, a depiction the BOT chief has rejected.

Srettha, who is also the finance minister, has been at loggerheads with the central bank over the direction of monetary policy, arguing the economy needed support amid negative inflation.

BOT Governor Sethaput Suthiwartnarueput recently told Reuters that monetary policy was “broadly neutral” and while growth would be slower than expected this year, the economy was not in crisis.

On Wednesday, the BOT lowered its 2024 growth outlook to 2.5-3% from 3.2%. The economy expanded 2.6% in 2022.

Consumer prices have fallen for four consecutive months year-on-year through January, driven by government energy subsidies, below the central bank’s target range of 1% to 3%.

The central bank said it saw headline inflation near 1% this year and saw inflation picking up in 2025.

(This story has been corrected to fix 0.25 basis points to 25 basis points in paragraph 3)

Source: Investing.com

Renton Campoy

Renton Campoy

Related Posts

Nexen tire supplies hyundai’s next generation hydrogen suv
Tire Market, Tire Company News

NEXEN TIRE Supplies Hyundai’s Next-Generation Hydrogen SUV

by Renton Campoy
July 12, 2025
Tyron runflat grips the blue light sector
Tire Market, Tire Company News

Tyron Runflat Grips the Blue-Light Sector

by Renton Campoy
July 12, 2025
Prometeon celebrates successful return to rtx
Tire Market, Tire Company News

Prometeon Celebrates Successful Return to RTX

by Renton Campoy
July 11, 2025
Next Post
EUR/USD Could Drop to New 2024 Low – Here’s How to Trade It

EUR/USD Could Drop to New 2024 Low – Here’s How to Trade It

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Motor ombudsman claims tyresafe online and social media award

Motor Ombudsman Claims TyreSafe Online and Social Media Award

June 22, 2025

Top-10 Rubber Producing Countries in the World 2024

May 8, 2024
Eden tyres & servicing gains prestigious award

Eden Tyres & Servicing Gains Prestigious Award

July 8, 2025
A rubber tapper from Felda Laka Selatan, Changlun, Kedah hard at work. -- BERNAMA PIC

Brief Analysis of Natural Rubber Production in Thailand

September 20, 2024

Rubber News

Rubber Market Is Expected To Trade At Equilibrium Next Week

Japan futures hit one-week high on better China data, weaker yen

November 6, 2024
Rubber price hike rejoices cultivators; irks manufactures

Japan futures dip as stronger yen, US election uncertainty weigh

November 5, 2024
In July 2024, Vietnam

Asian physical rubber prices – Oct 31

October 31, 2024
Japanese Rubber Futures Climb

Japan futures rebound on hopes of further China stimulus

October 31, 2024
Local Rubber Market Ends Mixed Amid Weaker Regional Sentiment

Japan futures hit one-month low on soft China data, trade tensions

October 30, 2024
Malaysia’s Natural Rubber Production Slides 5.2% In August

Asian physical rubber prices – Oct 30, 2024

October 30, 2024

Tire News

Nexen tire supplies hyundai’s next generation hydrogen suv

NEXEN TIRE Supplies Hyundai’s Next-Generation Hydrogen SUV

July 12, 2025
Tyron runflat grips the blue light sector

Tyron Runflat Grips the Blue-Light Sector

July 12, 2025
Prometeon celebrates successful return to rtx

Prometeon Celebrates Successful Return to RTX

July 11, 2025
Ryan reed announced goodyear vice president

Ryan Reed Announced Goodyear Vice President

July 11, 2025
Yokohama and urban automotive at goodwood festival of speed

Yokohama and Urban Automotive at Goodwood Festival of Speed

July 10, 2025
Ashes of risotto rice husk in tyres

Ashes of Risotto Rice Husk in Tyres

July 10, 2025

Other News

  • All
  • Commodity Market News
  • Economic, Financial news
Iron ore futures drop

Iron ore futures gain on expectations

March 19, 2025
South korea’s mfg buys about 137,000 tons of corn

South Korea’s MFG buys about 137,000 tons of corn

March 19, 2025
Soybeans Corn Edge Higher After Losses Us Rains To Limit Gains

Safras trims forecast for Brazil’s soy output

March 19, 2025
Gold hits new all time highs

Gold prices slightly down

March 19, 2025
Peshawar: prices of essential items remain steady

Peshawar: Prices of essential items remain steady

March 19, 2025
Oil prices tick up on us attack on houthis, china economic hopes

Oil prices tick up on US attack on Houthis, China economic hopes

March 19, 2025
Load More
Global Rubber Market News

Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

Rubber Prices

  • Global rubber prices reports
  • Futures
  • ASIA
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam

Rubber News

  • Global rubber market news
  • Global Rubber Analytics, Outlook
  • Global Synthetic Rubber News
  • Tire Market, Tire Company News
  • Rubber plantation

Other News

  • Commodity Market News
  • Economic, Financial news
  • Other News

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports