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Financial News: Thai Central Bank Keeps Rates Unchanged

Thai Central Bank Keeps Rates Unchanged

02/08/2017 - 02:48:00 (RTTNews)

(RTTNews) - Thailand's central bank kept its key interest rates unchanged as policymakers expect the economy to recover at a faster than previously estimated pace despite uncertainties on the external front.

The Monetary Policy Committee of the Bank of Thailand unanimously voted to keep the interest rate at 1.50 percent, as expected, on Wednesday.

The benchmark rate has been at the current level since April 2015, when it was reduced by a quarter basis point.

The MPC viewed that monetary policy should remain accommodative, and would stand ready to utilize an appropriate mix of available policy tools in order to ensure that monetary conditions are conducive to the economic recovery, while ensuring financial stability.

The economy is projected to grow at a faster pace on the back of a more broad-based recovery. Nevertheless, the improved growth outlook was subject to various risk factors that require close monitoring, the bank observed.

Further, the bank noted that headline inflation returned to the target band in December. Inflation is expected to continue an upward trajectory.

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