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Steady monetary policy appropriate, BoT says

  • WRITER: REUTERS

The Bank of Thailand identifies improving growth outlook and increased financial stability risks from a further rate cut as key reasons for the bank to hold policy steady. (Reuters photo)

The improving growth outlook and increased financial stability risks from a further rate cut were key reasons for the central bank's decision to hold the policy interest rate steady this month, minutes from the meeting show.

The Bank of Thailand's Monetary Policy Committee unanimously voted to keep the one-day repurchase rate at 1.50% on Aug 16, where it has been since April 2015, and just 25 basis points above the all-time low. 

The committee expected growth outlook to improve further on a boost from exports and tourism, with domestic demand to expand at a gradual pace, the minutes released on Wednesday show.

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