The Bank of Thailand’s monetary policy committee voted 5–2 to keep the one‑day repurchase rate steady at 1.50%, surprising most economists who had predicted another cut【565745750286153†L191-L213】. It was the central bank’s first review under new governor Vitai Ratanakorn and followed four rate cuts over the past year.

Policymakers said they trimmed their growth forecast to 2.2% for 2025 and 1.6% for 2026 (from 2.3% and 1.7%) as the economy struggles with a strong baht, weak consumption and U.S. trade tensions【565745750286153†L228-L233】. The bank said previous rate cuts are still feeding through the economy and it needs to preserve policy space, but added that it stands ready to ease again if the outlook deteriorates【565745750286153†L191-L223】.

Economists from Pantheon Macroeconomics and Capital Economics still expect two more 25‑basis‑point cuts before the end of next year【565745750286153†L239-L244】. The central bank also lowered its headline inflation forecast to zero for this year, noting that inflation has been negative for six months but deflation risks are low【565745750286153†L245-L247】. Officials upgraded their export forecast to a 10% increase this year but expect exports to fall 1% in 2026【565745750286153†L256-L259】. Finance Minister Ekniti Nitithanprapas announced a 44 billion‑baht subsidy program to support consumers and stimulate growth【565745750286153†L261-L264】.