Thai central bank raises policy rate by 25 basis points

14 Sept 08:33 Key points summarised by AI

The Bank of Thailand's monetary policy committee unanimously voted to raise the policy rate by 25 basis points, bringing it to 2.5% with immediate effect.
The Thai economy is experiencing a slow recovery this year due to soft external demand but is projected to pick up significantly in 2024, driven by increasing domestic and global demand.
Inflation is anticipated to rise next year in line with the economic recovery and potential supply pressures from El Niño, though headline inflation is expected to remain within the target range.
The financial system remains resilient, with financial institutions maintaining strong capital and provisions, and overall financial conditions continue to support private sector fund mobilization and economic recovery.

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

Today 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.