Thailand’s central bank has signalled a notable shift in its policy emphasis toward supporting economic growth in response to slowing domestic momentum and expanding risks, reflecting an evolution from a pure guardian of financial stability to a more active driver of broader economic resilience.

Over the past year, the Bank of Thailand’s Monetary Policy Committee has taken steps to ease monetary conditions, including reductions in the policy interest rate to inject liquidity into the economy and mitigate slowing activity across key sectors.

The central bank has highlighted the need to respond flexibly to uneven recovery dynamics, subdued private consumption and external uncertainties affecting trade and investment.

This recalibration has been reinforced through the Bank of Thailand’s latest medium-term strategic framework, which places greater weight on fostering sustainable growth while safeguarding long-term stability.

Policymakers have stressed that supporting growth does not mean abandoning prudence, but rather using available tools more proactively to strengthen economic momentum and resilience.

Measures have included improved credit transmission, targeted support for small and medium-sized enterprises and closer coordination with fiscal authorities to ensure monetary policy complements broader economic objectives.

Officials continue to emphasise that price stability and financial system soundness remain core mandates.

However, with inflation pressures easing and growth risks more pronounced, the central bank has argued that a more growth-supportive stance is appropriate.

As Thailand navigates global uncertainty and domestic structural challenges, the Bank of Thailand’s evolving role underscores a broader effort to balance stability with the imperative of sustaining economic expansion and competitiveness.