Central bank raises key interest rate to 1.25% with immediate effect

13 Sept 15:46 Key points summarised by AI

The Bank of Thailand's Monetary Policy Committee unanimously raised the key interest rate by 0.25% to 1.25% with immediate effect.
This rate hike aligns with declining inflation, which has passed its peak, and a steady increase in economic growth projections for the coming years.
General inflation is projected to drop significantly to 3.0% next year and 2.1% in 2024, while economic growth is forecast to reach 3.2% this year and accelerate to 3.7% in 2023 and 3.9% in 2024.
The domestic economy shows recovery in tourism and consumer consumption, despite a drop in exports, but the central bank remains cautious about global economic uncertainty and potential risks from domestic energy prices.
The committee will continue to closely monitor capital markets and foreign exchange fluctuations, signaling readiness for further interest rate adjustments if global and domestic conditions deviate from projections.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.