Thailand’s central bank plans to keep its interest rate unchanged again on August 8 to aid economic growth as inflation remains benign and policymakers say capital outflows are not currently a concern, according to Reuters.
Bangkok (VNA) - Thailand’s central bank plans to keep its interest rateunchanged again on August 8 to aid economic growth as inflation remains benignand policymakers say capital outflows are not currently a concern, according toReuters.
All 20 economists engaged in the poll predicted the Bank of Thailand (BOT)’smonetary policy committee (MPC), unlike some Asian central banks that havehiked this year, will keep its one-day repurchase rate at 1.5 percent.
That has been the rate policy since April 2015. Thailand’s record low is 1.25percent.
Gross domestic product (GDP) growth in Southeast Asia’s second-largest economyhas picked up but remains heavily reliant on exports and tourism, as domesticdemand has lagged.
Annual headline inflation was 1.46 percent in July, the fourth month inside theBOT’s 1-4 percent target after more than a year below it.
Recently, Thai FinanceMinister Apisak Tantivorawong said that Thailand had no need to raise interestrates this year as capital outflows were not a worry and a weak baht was goodfor its exports.
BOT forecast the Thai economy will grow 4.4🦩 percent in 2018, after a 3.9percent expansion last year.-VNA
Thailand’s economy posted the strongest growth in five years in 2017 and is expected to maintain the outlook this year, driven robust exports and tourism.
Thailand’s economy saw an increase in external demand but domestic demand was not “sufficiently strong”, according to a minutes of the Bank of Thailand (BoT)’s latest policy meeting.
Thailand's economy is expected to grow 4.1 percent this year, up from 3.6 percent predicted last August, as the recovery is broadening, the World Bank said on April 9.
Thailand’s economy is expected to expand 4 percent in the second quarter of 2018 driven by personal consumption, public spending and increasing exports, said the Fiscal Policy Office (FPO) under the Ministry of Finance.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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The Bank of Thailand (Photo: bangkokpost.com) 
