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Thai central bank maintains policy rate

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Thai central bank maintains policy rate

The Bank of Thailand decided to maintain its policy rate at 1.50% in a unanimous monetary policy committee vote, minus one member who was not present at the meeting.

The committee concluded that economic growth would quicken to 3.9% in both 2017 and 2018, compared to previous estimates of 3.8% each. The upward revision follows continued improvements in merchandise exports and tourism, which in turn were due to the global economic recovery and the gradual rebound in domestic demand, the committee said.

Headline inflation edged up, pushed by rising energy prices, and was projected to continue to rise at a gradual pace, as previously assessed. The central bank revised its headline inflation estimates to 0.7% and 1.1% for 2017 and 2018, from 0.6% and 1.2%, respectively.