The Bank of Thailand (BoT) on Monday pledged to maintain its accommodative monetary policy stance to support a nascent economic recovery, saying it can “look through” short-term volatility in inflation.
“Inflation is accelerating as a result of supply-side factors,” the BoT said in a presentation at an analyst meeting. “In the current context, the monetary policy can look through the short-term volatility.”
The monetary policy will lay more emphasis on aiding economic recovery, while policy makers will manage inflation expectations through better communication on factors contributing to price pressures, the BoT said.
The Monetary Policy Committee left its benchmark interest rate steady at a record-low 0.5% last month even as consumer prices surged to the highest…
