Thailand holds rate at 1˝% as recovery accelerates, inflation gains

By Susanna Moon

Chicago, Feb. 8 – Bank of Thailand’s Monetary Policy Committee voted unanimously to maintain the policy rate at 1˝% at its meeting on Wednesday.

The Thai economy is expected to recover more rapidly than previously thought despite uncertainties while inflation continues to rise, according to a bank statement.

“Meanwhile, overall financial conditions remained accommodative and conducive to the economic recovery although bond yields increased somewhat,” the bank said.

The Thai economic recovery comes on the back of a more broad-based recovery in merchandise exports as well as gains in tourism.

“Headline inflation returned to the target band last December and continued trending upward,” the release added.

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