Thailand’s central bank likely to keep interest rate unchanged
The Bank of Thailand (BoT) is expected to leave its key interest rate unchanged at a record low after easing monetary policy three times this year to help mitigate the economic damage from the COVID-19 pandemic, a Reuters poll showed.
Hanoi (VNA) – The Bank of Thailand (BoT) isexpected to leave its key interest rate unchanged at a record low after easingmonetary policy three times this year to help mitigate the economic damage fromthe COVID-19 pandemic, a Reuters poll showed.
In the poll, 17 of 20 economists predicted the BoT's MonetaryPolicy Committee would hold its one-day repurchase rate at 0.5 percent.
The rest forecast it would cut the rate by 25 basis pointsto a new record low of 0.25 percent, citing a weaker economic outlook andstrength in the baht.
Most analysts think policy room is limited after five cutstotalling 125 basis points since August. Policymakers may want to monitor theeffects of previous easing and fiscal and monetary steps introduced to mitigatethe outbreak impact.
On June 19, the BoT also announced interest rate cuts forcredit cards and personal loans to help debtors.
The central bank has hit its "limits on rate policyeasing" as the lockdown has ended and the economy is back in action, INGeconomist Prakash Sakpal said.
Thailand has removed most restrictions to revive SoutheastAsia's second-largest economy.
The central bank recently said the economy could shrink thisyear more than earlier expected. In March, it forecast a 5.3 percentcontraction, the worst since the 1997-1998 Asian financial crisis. It willoffer updated economic forecasts after the meeting./.
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The Bank of Thailand in Bangkok (Photo: Reuters) 
