Bank of Thailand leaves policy interest rate unchanged at 1¼%

By Richard Connell

New York, Dec. 2 - The Monetary Policy Council of the Bank of Thailand left its policy interest rate at 1¼% at its meeting on Wednesday, according to a news release issued by the bank.

The council noted that the major industrialized and Asian economies expanded in third-quarter 2009 at a higher rate than expectations, the result of improved global economic and financial conditions.

The council also pointed out that the recovery in the Thai economy continued, supported by improvements in business sentiment, farm income, employment conditions and the tourism sector.

Headline inflation in Thailand turned positive for the first time since early 2009 due to increased oil prices, but core inflation remains close to zero.

Assessing that inflationary pressure will remain subdued for the present time, the council kept the rate unchanged at 1¼%.

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