Thailand's central bank will act independently and not cave to ‘political' pressure, governor says

The Bank of Thailand’s governor emphasized that the central bank makes interest rate decisions independently and is not influenced by political pressures. The governor stated that if the bank did not operate independently, it would have made rate decisions based on external pressures. Despite calls for rate cuts, the Bank of Thailand has maintained its independence. The governor highlighted that decisions are made based on what is best for the economy, without consideration for political or other pressures. The bank has kept the key interest rate steady at 2.50%, aiming to balance economic recovery and monetary policy. Concerns over household debt were also expressed in the minutes of the bank’s April policy meeting. The governor suggested a focus on public investment and deregulation to address structural challenges and raise productivity.