BANGKOK, Dec. 24 (Xinhua) -- Thailand's cabinet on Tuesday acknowledged an agreement to maintain the official inflation target of 1 percent to 3 percent in 2025, Deputy Finance Minister Julapun Amornvivat said.
Following the agreement reached between the Ministry of Finance and the Bank of Thailand, the government has asked both agencies to maintain an average inflation rate of 2 percent to support the ongoing economic recovery, Julapun said after a cabinet meeting.
The Southeast Asian country's headline inflation remained below the official target for a sixth consecutive month in November, averaging 0.32 percent in the first 11 months compared to the same period last year.
Last week, the Bank of Thailand's monetary policy committee voted unanimously to hold the benchmark interest rate at 2.25 percent at its final meeting of 2024.
Despite repeated calls from the government to lower borrowing costs in order to shore up a sluggish economy and ease the burden on debtors, the central bank only cut its policy rate once this year. ■