Thai Cabinet Endorses Keeping 1%-3% Inflation Target for 2025
- Decision to keep inflation target is victory for central bank
- Bank of Thailand pushed back at calls for a higher band
Inflation has undershot the central bank’s target this year, averaging 0.3% in the first 11 months.
Photographer: Andre Malerba/BloombergThis article is for subscribers only.
Thailand’s cabinet endorsed a deal to keep the official inflation target unchanged in 2025, a victory for the Bank of Thailand after it resisted calls for a higher goal that would have paved the way for more rate cuts.
Cabinet endorsed an agreement between the central bank and Ministry of Finance to keep the inflation target in a range of 1% to 3%, Deputy Finance Minister Julapun Amornvivat said after a cabinet meeting chaired by Prime Minister Paetongtarn Shinawatra in Bangkok on Tuesday.