BANGKOK, Thailand – The Bank of Thailand’s (BoT) Monetary Policy Committee (MPC) has voted to reduce the policy interest rate by 0.25% per year, lowering it from 2.50% to 2.25%, effective immediately, October 16. The decision aims to ease debt burdens without hindering efforts to reduce household debt ratios.
In the MPC meeting, the committee voted 5-2 in favor of the rate cut. The majority of the committee believes that this reduction will help alleviate debt pressures, as the expansion of credit is expected to slow down. The new rate is considered neutral and remains consistent with the country’s economic potential.
The BoT aims to support the overall economy while maintaining financial stability, with a focus on mitigating household debt issues as part of this adjustment. (TNA)
