BANGKOK, Sept 25 (TNA) – Thailand’s central bank
maintains its policy rate at 1.5 percent while cutting its GDP forecast from
3.3 to 2.8 percent due to grim outlook.
The Monetary Policy Committee (MPC) of the Bank of Thailand
(BOT) held a policy meeting on Wednesday and voted unanimously to maintain the
policy rate at 1.50 percent.
Titanun Mallikamas, Secretary of the MPC, announced that the
committee assessed that the Thai economy would expand at a lower rate than
previously assessed due to a decline in exports which affected domestic demand.
Mr. Titanun attributed the slow exports to the slowdown of
trading partner economies and global trade hit by trade tensions between China
and the US.
Members of the MPC also expressed concerns over the baht
appreciation against trading partner currencies. It would continue to monitor exchange rates
and capital flows and would implement measures if necessary, he said.
The committee revised down its GDP forecast to 2.8 percent
this year and 3.3 percent for 2020, said Mr. Titinun.
On the domestic front, the committee viewed that domestic
demand and private consumption was expected to slow down despite supports from
fiscal stimulus measures, Titinun noted. (TNA)
