Economics
Thai Central Bank Holds Key Rate, Cuts 2022 Growth Forecast
- All 20 economists surveyed by Bloomberg correctly called hold
- Bank expects Thai economy to grow 0.9% this year, 3.4% in 2022
Members of the public wait in line to receive the Pfizer-BioNTech Covid-19 vaccine at a vaccination center set up at the Bang Sue Grand Station in Bangkok, Thailand, on Dec. 20.
Photographer: Andre Malerba/BloombergThis article is for subscribers only.
Thailand’s central bank held its benchmark interest rate unchanged for a 13th straight meeting to assess how much risk the omicron variant poses to a fragile economic recovery.
The Bank of Thailand’s rate setting committee voted unanimously to hold the one-day bond repurchase rate at a record-low 0.5% Wednesday, as predicted by all 20 economists in a Bloomberg survey. The central bank also lowered its forecast for next year’s gross domestic product growth to 3.4%, from 3.9% previously, while boosting the 2021 expectation to 0.9% from 0.7%.