Thai central bank in no rush to raise rates, governor says

Bangkok, October 8 - The head of Thailand's central bank has stated there is no urgency in raising interest rates, emphasizing that monetary policy cannot address the structural issues hampering economic growth. The central bank kept its key interest rate at 1.00 percent in August, with the next monetary policy review scheduled for October 28.

Speaking at a business forum on Thursday, Bank of Thailand Governor Vitai Ratanakorn indicated that the economy is projected to expand by approximately 2.3 percent this year. He also mentioned that exports are anticipated to grow by 17 to 18 percent this year, compared to the earlier forecast of 14 percent. Vitai further suggested that inflation is likely to decelerate to around 2 percent in 2026, down from the June forecast of 2.8 percent.