Japan · Nation Thailand
Bank of Thailand holds policy rate at 1.00% on October 28
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The Bank of Thailand’s Monetary Policy Committee (MPC) held the policy rate at 1.00% per annum on October 28, 2026, maintaining support for an uneven economic recovery while watching inflation risks from oil prices and El Niño.
Key facts
- The MPC forecasts economic growth of 2.4% in 2026 and 2.1% in 2027, supported by stronger-than-expected exports and investment linked to the technology and artificial intelligence (AI) cycle.
- The MPC projects headline inflation averaging 2.1% in 2026 and 1.3% in 2027
- Core inflation is forecast to average 1.2% in 2026 and 1.3% in 2027, while medium-term inflation expectations remain anchored within the target range.
- The committee had also held the rate at 1.00% at its August 26 meeting.
- MPC secretary Don Nakornthab said the vote was unanimous among members attending the meeting, with one committee member absent.
- Higher energy prices and the effects of El Niño are expected to push inflation up during the remainder of 2026 and into early 2027.
Summary
MPC secretary Don Nakornthab said the vote was unanimous among members attending the meeting, with one committee member absent.
The MPC judged the current rate appropriate, saying accommodative monetary policy and targeted financial measures were helping the recovery. Inflation was expected to rise temporarily because of supply-side factors. The committee had also held the rate at 1.00% at its August 26 meeting.