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Policy rate stays at 0.5% to help reinforce Thailand’s recovery

  • Nov 11, 2021

Thailand’s Monetary Policy Committee (MPC) on Wednesday unanimously voted to maintain the policy rate at 0.5 per cent, MPC secretary Piti Disyatat said.

He added that the decision was based on the fact that the Thai economy had bottomed out in the third quarter of this year and entered recovery phase following the relaxation of restrictions and reopening the country.

Downside risks to the economy also dropped thanks to the accelerated vaccination process.

However, recovery will remain fragile due to uncertainties like global energy prices.

Piti said the committee chose to maintain the policy rate at 0.5 per cent because it believes an accommodative monetary policy will help support the country’s overall economic growth. It also believes that continuing financial and fiscal measures, with a focus on rebuilding and enhancing potential growth will play an important part in bolstering the robust recovery of income.

Published : November 10, 2021

By : THE NATION