BANGKOK (Reuters) -Thailand’s exports are expected to contract sharply in the second half of the year due to tariffs from the United States, minutes of the Bank of Thailand’s June 25 monetary policy meeting showed on Wednesday.
At the meeting, the BOT’s monetary policy committee voted 6 to 1 to keep the one-day repurchase rate unchanged at 1.75%, after back-to-back cuts in February and April.
Thai economic growth and financial conditions were held back by several factors and monetary policy alone had limited efficacy in addressing those issues, the minutes said.
“Targeted measures in conjunction with business adaptation were deemed necessary,” it said.
At the review, the stronger-than-expected start to the year saw the BOT lift its central-case economic growth forecast to 2.3% for 2025, almost matching last year’s 2.5% and more optimistic than some market analysts.
The next rate review is on August 13.
(Reporting by Orathai Sriring, Thanadech Staporncharnchai; Editing by David Stanway)
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