Thailand’s central bank on Wednesday kept its policy interest rate unchanged at 1.25 per cent, saying the current rate is “appropriate and supportive of the economic recovery”.
Bank of Thailand (BoT) Assistant Governor Paiboon Kittisrikangwan said the Thai economy continued to recover at a slightly slower pace in the third quarter and October boosted by improvements in domestic and foreign order books, business sentiment, farm income, employment conditions as well as the tourism sector.
As a result, the BoT Monetary Policy Committee (MPC) agreed that gradual economic recovery still “requires sustained policy support.”
The major industrialised and Asian economies expanded in the third quarter at higher rates than market expectations but overall recovery remains dependent on policy support.
Current global inflationary pressure continues to be subdued, but risks to global economic recovery remain and warrant continued close monitoring, Mr Paiboon said.
