BOT Continues to Hold Policy Rate at Record Low, Saying Thai Economy Bottomed Out in 3Q
The Monetary Policy Committee unanimously voted on Wednesday to maintain the policy rate at 0.50%, as Thailand's economy has already bottomed out in the third quarter
The Monetary Policy Committee unanimously voted on Wednesday to maintain the policy rate at 0.50%, as Thailand's economy has already bottomed out in the third quarter
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The Monetary Policy Committee (MPC) unanimously voted on Wednesday (November 10) to maintain the policy rate at 0.50%, as Thailand’s economy has already bottomed out in the third quarter of this year and is on a steady path of economic recovery from the pandemic, but it remains uneven and uncertain.
With the country’s reopening and the lifting of lockdowns steadily boosting the economy, the MPC expects Thailand’s economy to expand in 2021 and 2022, as domestic spending gradually increased following the easing of COVID-19 control measures. This also helps mitigate the economic impact of rising global energy prices.