Thailand keeps interest rate on hold at 1.5 percent
The Bank of Thailand (BoT) has decided to maintain the benchmark interest rate on hold at 1.5 percent and continue an accommodative monetary policy for the country’s economic recovery.
The Bank of Thailand has decided to maintain the benchmark interest rate on hold at 1.5 percent. (Photo: Reuters)
Bangkok (VNA) – The Bank ofThailand (BoT) has decided to maintain the benchmark interest rate on hold at1.5 percent and continue an accommodative monetary policy for the country’seconomic recovery.
The BoT’s Monetary Policy Committee(MPC) voted unanimously on November 8 to keep the interest rate at 1.5 percent,which has been applicable since April 2015.
The Thai economy will grow faster theprevious forecast owing to improvements in export and domestic consumption, MPCsaid in a statement, adding that the Baht will remain stable, not affecting thecountry’s trading partners.
Last month, the Thai Chamber of Commerce(TCC) forecast Thailand’s economy will continue growing in the last quarter of2017 after it expanded around 3.5 percent in the third quarter.
According to TCC President Klin Sarasin,the economy will see good growth in the last three months thanks to tourism,exports and public investment. Consumption expenses will also be on the risewhen the government carries out a new social welfare programme in the timeahead, he noted.-VNA
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The Bank of Thailand has decided to maintain the benchmark interest rate on hold at 1.5 percent. (Photo: Reuters)
