Thailand: BoT holds interest rates steady

  • The Bank of Thailand (BoT) kept its policy rate unchanged on 25 Mar 20 after an unscheduled rate cut of 25bps on 21 Mar 20.
  • BoT trimmed its economic growth forecast for 2020 to a 5.3% contraction.
  • The Monetary Policy Committee (MPC) voted 4-2 to hold the policy rate at a record low of 0.75%, said MPC secretary Titanun Mallikamas.
  • The rate-setter agreed that fiscal policy should be a main tool to alleviate the impacts from Covid-19 spread, he said.

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