Bank of Thailand elects to keep policy interest rate unchanged at 1½%

By Richard Connell

New York, Aug. 26 - The Monetary Policy Council of the Bank of Thailand left its policy interest rate at 1½% at its meeting on Wednesday, according to a news release issued by the bank.

The council pointed out that data indicate that the global economic situation has improved, reflected in improved GDP growth in most major industrialized and Asian countries, while also warning that risks to a full recovery remain.

The economy of Thailand showed positive movement in the second quarter of 2009, including GDP expansion over the first quarter, as well as improved manufacturing, exports and private consumption.

Assessing the current interest rate to be supportive of economic recovery without causing inflationary pressures, the council left the policy interest rate at 1½%.

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