Bank of Thailand unexpectedly holds policy
Vitai Ratanakorn’s first meeting as governor results in 5–2 vote to keep rates at 1.5%
Thailand’s central bank held rates at 1.5% today (October 8) during the first policy meeting under new governor Vitai Ratanakorn, thereby defying many economists’ predictions of another cut.
In its statement, the Bank of Thailand (BoT) said its monetary policy committee felt that rates would remain accommodative following a hold. It said this would support the economy amid an ongoing slowdown in tourism and domestic demand, a contraction in credit and slightly weaker-than-expected headline
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