Thai central bank holds key rate, cuts 2019 growth, export forecasts
FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand in this April 26, 2016 file photo. REUTERS/Jorge Silva/File Photo
BANGKOK (Reuters) - Thailand's central bank held its benchmark interest rate steady for a second straight meeting on Wednesday as expected, and cut its forecasts for economic growth and exports this year.
The Bank of Thailand (BOT)'s monetary policy committee held the one-day repurchase rate at 1.75 percent.
All 19 economists polled by Reuters had predicted no change to policy.
The bank held its fire at the February review after hiking the rate by 25 basis points in December for the first time in more than seven years and from near record lows.
The BOT now expects 2019 economic growth of 3.8 percent, rather than 4.0 percent seen three months ago. It predicts exports will rise 3.0 percent, rather than increase 3.8 percent seen earlier.
The BOT forecasts headline inflation of 1.0 percent this year, unchanged from December.
In 2018, Southeast Asia's second-largest economy expanded 4.1 percent, the highest rate in six years.
(Reporting by Kitiphong Thaichareon and Orathai Sriring; Editing by Darren Schuettler)
MFA informs media of 52nd ASEAN Foreign Ministers’ Meeting’s key issues BANGKOK, 24th July 2019 (NNT) - The Ministry of Foreign Affairs led by Director-General of the Department of ASEAN Affairs, Dr. Suriya Jindawong, has informed both the Thai and interantional news media that the 52nd ASEAN...READ MORE...
Thailand plans series of world class cross-country running events Thailand’s Prime Minister and Defence Minister Prayut Chan-o-cha is considering the launch of a series of international standard cross-country running tournaments to boost tourism. While the idea is at an early stage of...READ MORE...
Consumers avoid using credit cards due to slowing economyBy THE NATION The Thailand economy's slowing growth has impacted the credit card spending of Bangkok Bank cardholders. The bank’s credit card spending in the first half of this year grew by only 6-7 per cent compared to 10 per cent for the...READ MORE...
Thailand’s taxi and tuk tuk scams and annoyancesBy The Thaiger “Where are you going?”, they shout from across the road. A Tuk Tuk driver wants to help you get to your next destination but the willing smile and lure of a ride in a local jalopy may have switched off your trusty scam-detector. Tuk...READ MORE...