Bank of Thailand Keeps Status Quo
May 24, 2017
Thailand’s latest monetary policy review ended with a unanimous assertion of a continuing need for a growth-supporting accommodative stance. The monetary policy council retained a 1.5% policy rate. It’s been at that level since eight 25-basis point reductions implemented between November 2011 and April 2015. The seventh of those cuts was made in March 2015.
In a released statement, officials observe improved growth and project in-target inflation later this year. However, inflation is currently below the target mid-point and demand-pull pressure on prices is low and unlikely to become meaningful. Equally important, the economy faces external risks such as “U.S. economic and foreign trade policies, China’s economic structural reforms, and geopolitical risks. ”
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Thailand
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