Bank of Thailand holds key rate at record low, cuts 2021 GDP outlook

• Jun 23, 2021

Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, as widely expected, but lowered its 2021 economic growth forecast as the country struggles with a third wave of coronavirus infections.

The Bank of Thailand’s (BoT) monetary policy committee voted unanimously to hold the one-day repurchase rate at 0.50% for a ninth straight meeting.

All 22 economists in a Reuters poll had expected the BoT to remain on hold after three rate cuts last year.

The BoT now expects Southeast Asia’s second largest economy to grow 1.8% this year, down from a previous forecast for 3.0%.

Source: https://www.bangkokpost.com/business/2137187/bank-of-thailand-holds-key-rate-at-record-low-cuts-2021-gdp-outlook