BANGKOK, Dec 25 (NNN-TNA) – Thailand’s cabinet, yesterday, agreed to maintain the official inflation target of 1 to 3 percent in 2025, Deputy Finance Minister, Julapun Amornvivat, said.
Following the agreement reached between the Ministry of Finance and the Bank of Thailand, the government has asked both agencies to maintain an average inflation rate of 2 percent, to support the ongoing economic recovery, Julapun said, after a cabinet meeting.
The country’s headline inflation remained below the official target for a sixth consecutive month in Nov, averaging 0.32 percent in the first 11 months, compared to the same period last year.
Last week, the Bank of Thailand’s monetary policy committee, voted unanimously to hold the benchmark interest rate at 2.25 percent at its final meeting of 2024.
Despite repeated calls from the government to lower borrowing costs, in order to shore up a sluggish economy, and ease the burden on debtors, the central bank had cut its policy rate only once this year.– NNN-TNA
