Thailand holds on signs of recovery

The Bank of Thailand kept its key policy rate at 1.25% on Wednesday and noted that financial conditions have improved of late.

The move, which was widely expected, was the third straight hold.

Paiboon Kittisrikangwan, the central bank's assistant governor, said: "In the second quarter, GDP growth of major industrialised and most Asian economies has improved over the previous quarter."

He added that Thailand's economy was no exception. "GDP has contracted at a smaller pace compared to the same pe

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