Nothing new The Bank of Thailand holds rates at 1.00%

研报英文原文证据摘录

Nothing new The Bank of Thailand holds rates at 1.00%

24 June 2026

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The Bank of Thailand holds rates at 1.00% Thailand

◆ In line with consensus, the BoT kept monetary policy unchanged at 1.00% Aris Dacanay

and maintained a dovish tone, in the absence of any inflation pass-through SeniorThe HongkongASEANandEconomistShanghai

Banking Corporation Limited

◆ In line with HSBC forecasts, the BoT expects growth to be strong in 2026 but aris.dacanay@hsbc.com.hk +852 3945 1247

to ease in 2027, perhaps, due to the risk of fiscal retrenchment

◆ Given the challenging growth outlook ahead, we continue to expect monetary

policy to remain unchanged and accommodative throughout 2026 and 2027

Facts

 In the third Monetary Policy Committee (MPC) meeting of the year, the Bank of Thailand (BoT)

decided to keep its monetary policy unchanged at 1.00%. The decision was unanimous.

 The move was in line with market expectations, with all 26 economics surveyed by Bloomberg,

including HSBC, expecting a hold.

 The BoT slightly lowered its headline inflation forecasts for 2026 and 2027 to 2.8% and 1.4%,

respectively (previously 2.9% and 1.5%, respectively).

 Meanwhile, the central bank significantly raised its 2026 growth forecast to 2.3% (prev. 1.5%),

while it lowered its 2027 forecast to 1.8% (prev. 2.0%).

To read our central bank preview, please see: Squeeze-louise (18 June 2026).

Implications

The outcomes of the meeting happened as expected. The BoT kept its policy rate steady and

accommodative at 1.00% while maintaining a relatively dovish tone.

In its statement, the BoT listed the same reasons for keeping monetary policy unchanged as in its

previous meeting: inflation is not expected to be persistent, credit conditions remain subdued and uneven,