The Bank of Thailand left its key interest rate unchanged on Wednesday, as expected, maintaining support for a fragile economic recovery facing global risks.
The BoT’s seven-member Monetary Policy Committee unanimously voted to hold the one-day repurchase rate at 0.50%, where it has been since May 2020, for a 15th straight meeting.
The BoT said inflation this year will breach its target on higher oil and food prices, though it plans to hold its policy rate steady to focus on supporting an economy still recovering from the pandemic.
The BoT raised its consumer price growth forecast for this year to 4.9%, above the top-end of its 1%-3% target range and boosting it from the 1.7% it predicted in December.
Facing higher imports costs for energy and other risks related to Russia’s…
