Thailand keeps interest rate on hold at 1.5 percent

Thailand keeps interest rate on hold at 1.5 percent hinh anh 1

The Bank of Thailand has decided to maintain the benchmark interest rate on hold at 1.5 percent. (Photo: Reuters)

Bangkok (VNA) – The Bank of Thailand (BoT) has decided to maintain the benchmark interest rate on hold at 1.5 percent and continue an accommodative monetary policy for the country’s economic recovery.

The BoT’s Monetary Policy Committee (MPC) voted unanimously on November 8 to keep the interest rate at 1.5 percent, which has been applicable since April 2015.

The Thai economy will grow faster the previous forecast owing to improvements in export and domestic consumption, MPC said in a statement, adding that the Baht will remain stable, not affecting the country’s trading partners.

Last month, the Thai Chamber of Commerce (TCC) forecast Thailand’s economy will continue growing in the last quarter of 2017 after it expanded around 3.5 percent in the third quarter.

According to TCC President Klin Sarasin, the economy will see good growth in the last three months thanks to tourism, exports and public investment. Consumption expenses will also be on the rise when the government carries out a new social welfare programme in the time ahead, he noted.-VNA

VNA

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