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Bank of Thailand keeps rate at 1.50%

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Bank of Thailand keeps rate at 1.50%

Bank ofThailand decided to maintain its policy rate at 1.50%, as headlineinflation turned positive in April and the Thai economy continued to recovergradually.

The central bank said May 11 that the economy continued torecover on the back of public expenditure and expansion in the tourism sector,which expanded with the broad-based increase in the number of inbound tourists.Private investment, on the other hand, remained low with expansion seen only insome business sectors.

Headline inflation turned positive in April as the baseeffect of high oil prices dissipated. However, demand-side inflation remainedsubdued. The central bank expects headline inflation to eventually rise as thebase effect of high oil prices continued to wane.