The Bank of Japan raised its policy rate by 0.25% to 1.25% on 18 September 2026, the highest in 31 years, so Japan's rate is now above Thailand's 1.00%. Thailand's rate was held unanimously by the Bank of Thailand's MPC on 26 August. Thailand is now the second-lowest policy rate in the world after Switzerland (0.00%). For a Thai SME this is background: no Thai rate change is announced in the article, so there is no immediate change to loan costs. Watch the next BOT meeting and the baht, since a widening rate gap with Japan and the US can move the yen and baht and affect import costs and Japan-linked trade.