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Financial News: Thailand Holds Key Rate Steady For Fourth Time

Thailand Holds Key Rate Steady For Fourth Time

06/26/2019 - 04:35:00 (RTTNews)

(RTTNews) - Thailand's central bank left its key interest rate unchanged in June for a fourth policy session in a row, though growth is expected to slow more-than-expected in coming quarters due to a weaker export outlook.

The Monetary Policy Committee voted unanimously to keep the policy rate unchanged at 1.75 percent, the Bank of Thailand said in a statement on Wednesday.

The decision was in line with economists' expectations.

The previous change in the policy rate was a quarter-point hike in December, which was the first in over seven years.

"The Committee viewed that the current accommodative monetary policy stance contributed to the continuation of economic growth and was appropriate given the inflation target," the bank said.

"There were pockets of risks to financial stability in the future that warranted continued monitoring," the Bank of Thailand added.

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