Thailand opts to keep rate at 1½% with ease in monetary conditions

By Tali Rackner

Norfolk, Va., Aug. 5 – Bank of Thailand’s Monetary Policy Committee voted unanimously to maintain the policy rate at 1½% at its meeting on Wednesday.

The committee believes that the current monetary policy has thus far eased monetary conditions, while the direction of exchange rate movement has stayed conducive to the economic recovery.

As a result, the monetary policy stance should continue to be accommodative and support the economic recovery, while maintaining long-term economic and financial stability, the committee said.

As previously reported, the committee lowered the rate by 25 basis points to 1½% in April, by 25 bps to 1¾% in March and by 25 bps to 2% in February.

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