FOREX TradingCharts.com

Financial News: Thailand Central Bank Keeps Rate On Hold

Thailand Central Bank Keeps Rate On Hold

12/22/2021 - 05:35:00 (RTTNews)

(RTTNews) - Thailand's central bank left its key interest rate unchanged, as widely expected, and downgraded its 2022 growth outlook citing risks posed by the Omicron outbreak.

At the Monetary Policy Committee meeting of the Bank of Thailand, policymakers unanimously voted to hold the key rate at 0.50 percent.

The bank had last reduced the rate by 25 basis points in May 2020.

The MPC expected that the domestic economy to grow 0.9 percent in 2021 and to expand 3.4 percent and 4.7 percent in 2022 and 2023, respectively, driven by domestic spending and a gradual improvement in foreign tourist figures.

But policymakers observed that the Omicron outbreak would affect the economy in early 2022. The outlook for 2022 was downgraded from 3.9 percent.

Inflation was expected to remain within the target in the medium term, with headline inflation projection at 1.2 percent, 1.7 percent, and 1.4 percent in 2021, 2022, and 2023, respectively.

Headline inflation increased temporarily due to supply-side factors, particularly energy prices, which were expected to subside in the second half of 2022.

The setback to the tourism sector caused by the spread of Omicron means rates are likely to remain at their current all-time low for some considerable time, Gareth Leather and Sophie Oudea, economists at Capital Economics, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: Germany GDP Data Due (14 min(s), 07 sec(s) ago)
(RTTNews) - Quarterly national accounts from Germany and France are due on Friday, headlining a bu ...Full Story»

Taiwan Manufacturing Sector Slows In January - Markit (18 min(s), 53 sec(s) ago)
(RTTNews) - The manufacturing sector in Taiwan continued to expand in January, albeit at a slower ...Full Story»

Australia Producer Prices Rise 1.3% On Quarter In Q4 (58 min(s), 53 sec(s) ago)
(RTTNews) - Final demand producer prices were up 1.3 percent on quarter in the fourth quarter of 2 ...Full Story»

Tokyo Inflation Climbs 0.5% On Year In January (38 min(s), 53 sec(s) ago)
(RTTNews) - Consumer prices in the Tokyo region of Japan were up 0.5 percent on year in January, t ...Full Story»

South Korea Industrial Output Spikes 4.3% On Month In December (08 min(s), 53 sec(s) ago)
(RTTNews) - Industrial production in South Korea advanced a seasonally adjusted 4.3 percent on mon ...Full Story»

South Korea Retail Sales Add 2.0% On Month In December (48 min(s), 53 sec(s) ago)
(RTTNews) - The value of retail sales in South Korea was up a seasonally adjusted 2.0 percent on m ...Full Story»

South Korea Industrial Production Jumps 4.3% On Month In December (33 min(s), 53 sec(s) ago)
(RTTNews) - Industrial output in South Korea climbed a seasonally adjusted 4.3 percent on month in ...Full Story»

Hong Kong GDP Data Due On Friday (53 min(s), 53 sec(s) ago)
(RTTNews) - Hong Kong will on Friday release an advance estimate for Q4 gross domestic product, hi ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: Germany GDP Data Due

01/28/2022 - 00:22 AM (RTTNews)
(RTTNews) - Quarterly national accounts from Germany and France are due on Friday, headlining a bu ...Full Story>>

Taiwan Manufacturing Sector Slows In January - Markit

01/27/2022 - 19:55 PM (RTTNews)
(RTTNews) - The manufacturing sector in Taiwan continued to expand in January, albeit at a slower ...Full Story>>

Australia Producer Prices Rise 1.3% On Quarter In Q4

01/27/2022 - 19:35 PM (RTTNews)
(RTTNews) - Final demand producer prices were up 1.3 percent on quarter in the fourth quarter of 2 ...Full Story>>

Tokyo Inflation Climbs 0.5% On Year In January

01/27/2022 - 19:15 PM (RTTNews)
(RTTNews) - Consumer prices in the Tokyo region of Japan were up 0.5 percent on year in January, t ...Full Story>>

South Korea Industrial Output Spikes 4.3% On Month In December

01/27/2022 - 18:45 PM (RTTNews)
(RTTNews) - Industrial production in South Korea advanced a seasonally adjusted 4.3 percent on mon ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.