Thailand votes to maintain policy rate at 2¾%, outlook stabilizes

By Tali David

Minneapolis, Nov. 28 - The Monetary Policy Council of the Bank of Thailand voted unanimously at a meeting on Wednesday to maintain the policy rate at 2¾%, according to a bank press release.

The rate last was cut from 3% in October.

In the release, assistant governor Paiboon Kittisrikangwan said that global economic outlook showed signs of stabilization on the back of better-than-expected economic data especially from the United States and China.

The Thai economy continued its positive growth momentum from the previous meeting. The global impact has so far remained limited only to export-related sectors, while the greater-than-expected strength in domestic demand appeared to provide sufficient cushion against the adverse impact of export slowdown.

According to the release, the committee viewed that as downside risks to growth subsided with inflationary pressure in check, the current policy rate remained accommodative and conducive to growth.

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