BANGKOK — Thailand's central bank kept its key interest rate unchanged for a fourth straight meeting on Wednesday, as widely expected, Reuters reported. The Bank of Thailand's monetary policy committee voted unanimously to maintain the one-day repurchase rate at 1.00%.

Source: Reuters via WIXX

All 26 economists polled by Reuters had expected the policy rate to remain unchanged, and most forecast the central bank would hold it there through the end of 2027. Dow Jones Newswires, reporting the same decision, said one committee member was unable to attend the meeting and that all 14 economists polled by The Wall Street Journal had also predicted a hold.

Source: Dow Jones Newswires via Morningstar

Growth forecasts raised, but still below potential

"The committee views that the current policy rate is appropriate to support economic recovery," the central bank said in its statement. It forecast the economy would grow 2.4% this year and 2.1% in 2027, up from its June forecasts of 2.3% and 1.8%, while saying overall growth remains below its potential.

Southeast Asia's second-largest economy expanded 1.9% annually in the second quarter of this year, down sharply from 2.8% in the previous quarter, and last year's growth of 2.4% lagged regional peers, Reuters noted. The bank said inflation had temporarily increased due to supply-side factors, and that it would keep monitoring the inflation outlook, surrounding risks and the effects of low interest rates on long-term macro-financial stability. The baht was largely unchanged after the decision, and the next rate meeting is on December 23.

1.00%Bank of Thailand one-day repurchase rate, held for a fourth straight meeting
2.4%Bank's 2026 growth forecast, raised from 2.3% in June
2.1%Bank's 2027 growth forecast, raised from 1.8% in June
150 bpsTotal of six rate cuts between October 2024 and February 2026

Holding while others hike

The hold sets Thailand apart in a year of oil-shock tightening. While many central banks, including the Philippines, have raised rates in response to inflationary pressures linked to the war in the Middle East, Thailand has kept its policy rate unchanged since the conflict started, Reuters reported. Dow Jones noted the Bank of Thailand is one of the few central banks that has not tightened this year, helped by entering the oil crisis with low inflation: despite importing the bulk of its fuel from the Middle East, Thailand has yet to feel a significant inflationary hit, leaving it room to keep an accommodative stance while exports and investment perform well and consumption stays anemic.

What is solid

  • The Bank of Thailand voted unanimously to hold its one-day repurchase rate at 1.00% for a fourth straight meeting on October 28, reported by both Reuters and Dow Jones Newswires.
  • The bank raised its growth forecasts to 2.4% for 2026 and 2.1% for 2027, from 2.3% and 1.8% in June, and its next meeting is December 23.
  • Thailand has not raised rates during the Middle East oil shock, unlike central banks such as the Philippines, after cutting six times for a total of 150 basis points between October 2024 and February 2026.

What is only claimed

  • How long the hold can last is a forecast, not a fact: most economists polled by Reuters expect a hold through the end of 2027, while the bank itself warns supply-side inflation and Middle East uncertainty could change the outlook.

For readers watching the global rate map ahead of the US Federal Reserve's own decision later on Wednesday, Thailand's message is that an oil shock does not force every central bank the same way: where inflation started low and household debt is high, policymakers are still choosing growth support over tightening — for now.