Thailand: Central bank keeps policy rate at record low, nudges up GDP outlook

• Sep 23, 2020

The Bank of Thailand (BoT) left its key interest rate unchanged at a record low on Wednesday and upgraded its GDP outlook slightly as the economy showed some signs of recovery from the fallout of the coronavirus pandemic.

The BoT’s monetary policy committee voted unanimously to keep the one-day repurchase rate steady at a record low of 0.50% for a third straight meeting.

All 18 economists in a Reuters poll had expected the central bank to remain on hold after it already cut rates by 75 basis points so far this year.

The BoT also raised its gross domestic product (GDP) forecast for 2020, expecting the economy to shrink 7.8% this year compared to a previous forecast for a record 8.1% contraction. 

Source: https://www.bangkokpost.com/business/1990399/central-bank-keeps-policy-rate-at-record-low-nudges-up-gdp-outlook