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The Bank of Thailand's Monetary Policy Committee voted unanimously to raise the policy rate by 0.25 percentage point to 2.50 percent on September 27, 2023. The committee projected 2023 growth at 2.8% and 2024 growth at 4.4%, with inflation expected to rise in 2024 partly due to El Niño-related supply pressure.
The El Niño supply pressure flagged by the central bank points to higher Thai food prices and possible weather-driven crop risk. Tighter policy and a firmer growth outlook support Thai feed and livestock demand but raise financing costs.
bot.or.thSep 27, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
