ID :
77121
Wed, 08/26/2009 - 20:11
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http://m.oananews.org//node/77121
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Thai central bank keeps key interest rate unchanged
BANGKOK, Aug 26 (TNA) -Thailand's central bank on Wednesday maintained its key interest rate unchanged at 1.25 per cent for the third consecutive policy meeting, citing uncertainty about the sustainability of the current global recovery, according to a bank statement.
Assistant Governor Paiboon Kittisrikangwan of the Bank of Thailand (BoT) said in the statement following a meeting of the Monetary Policy Committee (MPC), that the BoT would maintain the policy interest rate at 1.25 per cent as the current level of policy interest rate is "appropriate and supportive of the economic recovery without generating any inflationary pressure."
The decision was made in the wake of Monday's announcement by the National Economic and Social Development Board (NESDB) that the Thai economy in the second quarter rebounded 2.3 per cent from its sharp drop of 7.1 per cent in the first quarter of the year as manufacturing grew and the government upped its spending.
"The latest data indicate that global economic and financial conditions have improved since the last MPC meeting. In the second quarter, GDP growth of major industrialised and most Asian economies has improved over the previous quarter. Nevertheless, the MPC views that there is still a high degree of uncertainty about the sustainability of global economic recovery," Mr Paiboon said.
Thailand's state planning agency revised its growth forecast for 2009 to -3 per cent to -3.5 per cent from its previous estimate of -2.5 per cent to -3.5 per cent. (TNA)
Assistant Governor Paiboon Kittisrikangwan of the Bank of Thailand (BoT) said in the statement following a meeting of the Monetary Policy Committee (MPC), that the BoT would maintain the policy interest rate at 1.25 per cent as the current level of policy interest rate is "appropriate and supportive of the economic recovery without generating any inflationary pressure."
The decision was made in the wake of Monday's announcement by the National Economic and Social Development Board (NESDB) that the Thai economy in the second quarter rebounded 2.3 per cent from its sharp drop of 7.1 per cent in the first quarter of the year as manufacturing grew and the government upped its spending.
"The latest data indicate that global economic and financial conditions have improved since the last MPC meeting. In the second quarter, GDP growth of major industrialised and most Asian economies has improved over the previous quarter. Nevertheless, the MPC views that there is still a high degree of uncertainty about the sustainability of global economic recovery," Mr Paiboon said.
Thailand's state planning agency revised its growth forecast for 2009 to -3 per cent to -3.5 per cent from its previous estimate of -2.5 per cent to -3.5 per cent. (TNA)
