The MPC voted 6:1 to maintain the policy interest rate at 2.50% per year.

The MPC voted 6 to 1 to maintain the policy interest rate at 2.50 percent per annum, with 1 vote in favor of reducing the policy interest rate by 0.25 percent per annum. Mr. Piti Disyatat, Secretary of the Monetary Policy Committee (MPC), announced the results of the MPC meeting today. The committee voted 6 to 1 to maintain the policy interest rate at 2.50 percent per annum because the Thai economy is expected to expand as assessed, driven by tourism and domestic demand, while overall exports are gradually recovering. Inflation is expected to return to the target range by the end of 2024. Most members agreed that the current interest rate is still at a level consistent with economic expansion that is approaching its potential and maintaining economic and financial stability. Therefore, it is appropriate to maintain the policy interest rate, but the impact of deteriorating credit quality on financial conditions and the overall economy must be monitored. While one committee member voted to reduce the interes t rate by 0.25 percent per year to be in line with the economic potential that has expanded less due to clearer structural factors and will help alleviate the burden of debtors to some extent Source: Thai News Agency