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Financial News: Thai Central Bank Keeps Rates On Hold

Thai Central Bank Keeps Rates On Hold

12/20/2017 - 03:13:00 (RTTNews)

(RTTNews) - Thailand's central bank maintained its key interest rate as policymakers assessed that the current accommodative monetary policy stance is supportive to economy and foster the return of inflation to target.

The Monetary Policy Committee voted unanimously to maintain the policy rate at 1.50 percent, the Bank of Thailand said in a statement on Wednesday. The decision came in line with expectations.

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

Underpinned by external sector and the gradual recovery in domestic demand, the economy would achieve faster growth than previously assessed, the bank noted.

Nonetheless, policymakers said Thailand's growth outlook was still subject to risks that warranted close monitoring, namely uncertainties pertaining to US economic and foreign trade policies as well as geopolitical risks.

Headline inflation edged up on account of rising energy prices. Inflation was projected to slowly rise from the recovery in domestic demand.

The committee said it would stand ready to utilize available policy tools to sustain economic growth while also ensuring financial stability.

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