Thu, Dec 24, 2020 – 5:50 AM
THE Bank of Thailand kept its benchmark interest rate unchanged for a fifth straight meeting to preserve its limited policy space, while reiterating concerns about a currency rally and lowering its economic growth forecast for next year.
The central bank held the policy rate Wednesday at 0.5 per cent in a unanimous decision, after cutting by a total of 75 basis points earlier this year, and said it stood ready to use more monetary tools if necessary. Sixteen of 17 economists in a Bloomberg survey predicted the hold, with one expecting a 25-basis point cut.
The bank will “monitor the adequacy of the government measures and various risks, especially the new wave of the domestic outbreak, in deliberating monetary policy going forward,” according to a statement announcing the decision. “Fiscal measures must continue to sustain the economy.” The…
