Xinhua, Bangkok :
The Bank of Thailand, or the Thai central bank, Wednesday decided to maintain the policy rate at 2 percent.
The Monetary Policy Committee (MPC) voted five to two to maintain the policy rate with two members voting to reduce it by 0. 25 percent, said a statement posted on the bank’s website.
In deliberating monetary policy, most members judged that”the current policy stance remains sufficiently accommodative given a steady path of economic recovery in 2015, and is consistent with long-term financial stability objective,”it said.
Nevertheless, two members assessed that against the backdrop of higher downside risks to global growth and low inflationary pressure, monetary policy should be eased in order to add more support to the weaker-than-expected recovery.
In the third quarter of 2014, the Thai economy expanded slowly as expected, with domestic private spending being the main growth driver, the central bank said, adding in 2015, the economy should continue to recover, albeit at a rate lower than formerly assessed.
A recovery in exports of goods is subject to the more uncertain global economic outlook, while tourism is expected to turn more positive, but remains somewhat below the normal level, the statement said.
The Bank of Thailand, or the Thai central bank, Wednesday decided to maintain the policy rate at 2 percent.
The Monetary Policy Committee (MPC) voted five to two to maintain the policy rate with two members voting to reduce it by 0. 25 percent, said a statement posted on the bank’s website.
In deliberating monetary policy, most members judged that”the current policy stance remains sufficiently accommodative given a steady path of economic recovery in 2015, and is consistent with long-term financial stability objective,”it said.
Nevertheless, two members assessed that against the backdrop of higher downside risks to global growth and low inflationary pressure, monetary policy should be eased in order to add more support to the weaker-than-expected recovery.
In the third quarter of 2014, the Thai economy expanded slowly as expected, with domestic private spending being the main growth driver, the central bank said, adding in 2015, the economy should continue to recover, albeit at a rate lower than formerly assessed.
A recovery in exports of goods is subject to the more uncertain global economic outlook, while tourism is expected to turn more positive, but remains somewhat below the normal level, the statement said.
