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Financial News: Thailand Central Bank Keeps Rate Unchanged

Thailand Central Bank Keeps Rate Unchanged

09/27/2017 - 04:53:00 (RTTNews)

(RTTNews) - Thailand's central bank kept its key interest rate unchanged as policymakers said the current accommodative stance remained conducive to maintain economic growth.

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 was in line with economists' expectations.

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

The committee said the economy would grow more than previous assessment, driven by exports and recovery in domestic demand.

Nevertheless, the bank said improved growth outlook was still subject to both domestic and external risks that warranted close monitoring.

Further, headline inflation was projected to edge up albeit at a slower pace than previously expected mainly because of supply-side factors, the bank said.

Policymakers noted that the current stance should foster the return of headline inflation to target although this could take some time.

The MPC said the monetary policy should remain accommodative and would stand ready to utilize available policy tools to sustain economic growth while also ensuring financial stability.

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