BANGKOK- Thailand’s monetary policy committee makes decisions based on the economic outlook when reviewing rates and so would adjust them if the current assessment changed, the head of the central bank told a business forum on Wednesday.
Bank of Thailand Governor Sethaput Suthiwartnarueput noted the policy interest rate of 2.5 percent was among the lowest in the world, and said structural factors had held back the country’s economic growth.
The BOT expects Southeast Asia’s second-largest economy to grow 2.6 percent this year and 3 percent in 2025, noting the recovery was uneven.
“It’s not a great number,” he told the forum.
“We’re not happy with a long term growth rate at that reduced level … and not enough to lead to an increase in living standards and welfare that is necessary.”
Southeast Asia’s second-largest economy is likely to grow between 2.3 percent and 2.8 percent this year, Paopoom Rojanasakul said at a business forum.
He said the growth rate had not reached its full potential due to complex factors, including global geopolitical tensions, volatilities in global financial markets and domestic factors such as the political situation and delays in budget spending.
