BoT pegs growth at sub-2% for 18 months

US tariffs pressure Thai economy

- SOMRUEDI BANCHONGDUANG

The Bank of Thailand has assessed the Thai economy is likely to grow at a rate of less than 2% over the next 18 months, primarily due to pressures from US tariff policies.

Speaking at a monetary policy forum yesterday, Piti Disyatat, deputy governor for monetary stability at the central bank, said the heightened uncertainties arising from US tariffs on Thai exports are expected to negatively impact the country's exports, private investment, and domestic consumption in the second half of 2025 and throughout 2026.

The central bank will continue to monitor the impacts of US tariffs to better anticipate the country's economic trajectory, but the policy represents a significant external shock to both the global and Thai economies, and its adverse effects are expected to persist into next year, said Mr Piti.