Reference
·Primary source
Bank of Thailand policy rate (2020-2025)
2.00% (2025 H1)
The Bank of Thailand (BoT) policy rate sat at 2.00% in H1 2025, having peaked at 2.50% in late 2023 before two 25 basis-point cuts in 2024 and an additional cut in early 2025. The rate was held at 0.50% through the COVID period (2020-2021) before normalisation began in August 2022. Mortgage rates for prime borrowers track roughly 200-250 bps above policy; the MLR-MRR spread compressed in 2024 as competition increased. Mortgage qualification has been the binding constraint on demand more than headline rate level.
Figure in context
The Bank of Thailand (BoT) policy rate sat at 2.00% in H1 2025, having peaked at 2.50% in late 2023 before two 25 basis-point cuts in 2024 and an additional cut in early 2025. The rate was held at 0.50% through the COVID period (2020-2021) before normalisation began in August 2022. Mortgage rates for prime borrowers track roughly 200-250 bps above policy; the MLR-MRR spread compressed in 2024 as competition increased. Mortgage qualification has been the binding constraint on demand more than headline rate level.
Interpretation notes
What this tells you
The Bank of Thailand (BoT) policy rate sat at 2.00% in H1 2025, having peaked at 2.50% in late 2023 before two 25 basis-point cuts in 2024 and an additional cut in early 2025. The rate was held at 0.50% through the COVID period (2020-2021) before normalisation began in August 2022. Mortgage rates for prime borrowers track roughly 200-250 bps above policy; the MLR-MRR spread compressed in 2024 as competition increased. Mortgage qualification has been the binding constraint on demand more than headline rate level.
What not to do with it
Values in percent. Year-end policy rate; 2022 ended a 25-month hold at 0.50%.
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