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Thailand to keep interest rate unchanged

Thailand’s central bank plans to keep its interest rate unchanged again on August 8 to aid economic growth as inflation remains benign and policymakers say capital outflows are not currently a concern, according to Reuters.
Thailand to keep interest rate unchanged ảnh 1The Bank of Thailand (Photo: bangkokpost.com)

Bangkok (VNA) - Thailand’s central bank plans to keep its interest rateunchanged again on August 8 to aid economic growth as inflation remains benignand policymakers say capital outflows are not currently a concern, according toReuters.

All 20 economists engaged in the poll predicted the Bank of Thailand (BOT)’smonetary policy committee (MPC), unlike some Asian central banks that havehiked this year, will keep its one-day repurchase rate at 1.5 percent.

That has been the rate policy since April 2015. Thailand’s record low is 1.25percent.

Gross domestic product (GDP) growth in Southeast Asia’s second-largest economyhas picked up but remains heavily reliant on exports and tourism, as domesticdemand has lagged.

Annual headline inflation was 1.46 percent in July, the fourth month inside theBOT’s 1-4 percent target after more than a year below it.

Recently, Thai FinanceMinister Apisak Tantivorawong said that Thailand had no need to raise interestrates this year as capital outflows were not a worry and a weak baht was goodfor its exports.

BOT forecast the Thai economy will grow 4.4 percent in 2018, after a 3.9percent expansion last year.-VNA

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