The Bank of Thailand has defied pressure from Prime Minister Srettha Thavisin to lower its benchmark interest rate, opting to keep it at 2.50%. The decision comes in the face of repeated calls from the Prime Minister to cut rates in order to stimulate the economy. Despite this, the bank has upheld its position and maintained the interest rate at its current level.
The bank’s decision to stand firm against political pressure demonstrates its commitment to its monetary policies. This move suggests that the bank is prioritizing long-term economic stability over short-term political demands. By maintaining the current interest rate, the Bank of Thailand aims to support the overall health and resilience of the economy.