maintain price stability • foster economic growth • maintain financial system stability
An essential duty of central banks everywhere is to conduct monetary policy.
Monetary Policy Target
The Bank of Thailand (BOT) has conducted monetary policy under the flexible inflation targeting framework since May 2000. Under this framework, the BOT pays attention not only to ensuring price stability through setting inflation target (so-called "monetary policy target"), but also to preserving economic growth and financial stability.
Monetary Policy Committe (MPC) Meetings
The Monetary Policy Committee makes the decision on the policy rate 6 times per year. The MPC meeting schedule will be announced in advance. Special MPC meetings could be held in the necessary case.
Monetary Policy Committee Publications
The MPC communicates monetary policy decisions and rationale through MPC Meeting Press Releases, MPC Meeting Edited Minutes, the Monetary Policy Report (MPR), the Monetary Policy Forum, and Open Letters to the Minister of Finance.
Monetary Policy Operations
Under the flexible inflation targeting framework, the Monetary Policy Committee (MPC) signals its policy stance through changes of the policy interest rate, or the 1-day bilateral repurchase rate. The BOT has established monetary operations framework comprising various monetary policy instruments in order to steer short-term money market rates in line with the policy interest rate.