Bangkok, Thailand - October 16, 2024: Thailand's central bank has unexpectedly reduced its key interest rate by 25 basis points to 2.25% during a policy review. This decision, made by a 5 to 2 vote, aims to stimulate the sluggish economy, which is currently experiencing inflation below target levels. The Bank of Thailand had maintained the rate at a decade-high of 2.50% since September 2023. The central bank has also revised its economic growth forecast for 2024 from 2.6% to 2.7%.
Manila, Philippines - October 16, 2024: The Bangko Sentral ng Pilipinas has cut its key interest rate by 25 basis points, bringing it down to 6.0%. This marks the second consecutive rate cut, reflecting the central bank's assessment of manageable price pressures. The rate is now at its lowest since February 2023. The BSP has adjusted its inflation forecasts for 2024 down to 3.1%, while raising estimates for 2025 and 2026.