Thai central bank deputy governor's remarks offer the clearest indication yet of the country’s long-term monetary policy direction ahead of the Oct 28 rate decision. (Reuters pic)BANGKOK: The Bank of Thailand is unlikely to cut interest rates below the current 1% without a major economic shock and expects borrowing costs eventually to move higher as policy normalizes, according to Deputy Governor Piti Disyatat.

The current stance is accommodative and stands apart from tighter monetary settings in many other economies, Piti said in a Bloomberg Television interview Wednesday at the IMF-World Bank annual meetings in Bangkok. Thailand’s below-potential growth and relatively contained inflation justify that divergence, he said.