Thailand: Bank of Thailand stays put for fifth consecutive month
June 13, 2012
At its 13 June monetary policy meeting, the Bank of Thailand (BoT) maintained the one-day repurchase rate unchanged at 3.00%, in a decision widely expected by the market. The Bank's decision means that monetary officials have left the main monetary policy rate unaltered for five consecutive months. In its statement, the BoT acknowledged that the economy recovered faster than expected in the first quarter and that activity should continue gaining momentum amid "accommodative monetary conditions, robust private loan growth, and the implementation of government stimulus measures". However, monetary officials pointed out that the European debt crisis and slowing growth in China continue to be major risks to global economic growth. The next monetary policy meeting is scheduled for 25 July.
Author: Ricardo Aceves, Senior Economist