In the poll, 15 of 28 economists predicted the Bank of Thailand (BOT)'s monetary policy committee (MPC) will hold its one-day repurchase rate unchanged at 1.50% for a second straight meeting.

The others see a 25 basis-point cut to 1.25%, a record-low level last seen during the global financial crisis.

In August, the MPC unexpectedly cut the rate by a quarter point but paused in September despite downgrading its growth outlook. It said it needed to keep policy room.

A further rate cut may be just a matter of time, however, as 12 of 14 economists who gave a longer-term view saw the key rate at 1.25% by the end of the year.

Thammarat Kittisiripat, economist at Tisco Securities, predicts no policy change this week as the MPC "will opt to preserve monetary policy space to address possible future risks, especially in 2020 as the global economy is still at risk of recession".

But if downside risks escalate, there might be a rate cut in December, the final review of 2019, he added.

Kobsidthi Silpachai, head of capital markets research at Kasikornbank, sees a rate cut next month, rather than this week, as the release of "tepid" third-quarter growth data will build pressure on the MPC.

The BOT said last week third-quarter growth might be less than its 2.9% forecast. The official data is due on Nov. 18.

For a graphic on Thailand's Policy rate, GDP and CPI, click https://fingfx.thomsonreuters.com/gfx/mkt/12/8165/8096/Thai%20policy%20rate,%20GDP%20and%20CPI.png

In April-June, Southeast Asia's second-largest economy grew just 2.3%, the weakest annual pace in almost five years. The BOT forecast 2.8% growth this year, after last year's 4.1%.

However, Sarun Sunansathaporn, economist of Bank of Ayudhya, said "we see an imminent rate cut", especially when fiscal policy did not seem to be very efficient.

The government in August launched a $10 billion stimulus package, largely soft loans and some handouts, to help growth as the new budget plan has been delayed.

The baht is Asia's best performing currency this year, up 8% against the U.S. dollar, putting further pressure on the trade-reliant economy.

The central bank previously said it planned measures by the end of the year to help curb the baht's strength.

HSBC also expects a cut this week, saying the BOT cannot escape from global trends, with weak growth and subdued inflation, which was just 0.11% in October, the lowest in 28 months and far below BOT's 1-4% target range.

(Additional reporting by Satawasin Staporncharnchai in Bangkok and Shaloo Shrivastava in Bengaluru; Editing by Catherine Evans)

By Orathai Sriring