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 Bank & Finance
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10 Oct 07 17:38
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Thai central bank keeps lid on policy interest rate
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TNA
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BANGKOK, Oct 10 - The Bank of Thailand's Monetary Policy Committee (MPC) acted on Wednesday to leave its benchmark policy rate unchanged at 3.25 per cent as widely anticipated by the market.
Bank of Thailand assistant governor Suchada Kirakul said in a statement that the MPC meeting decided to keep the 1-day repurchase rate at 3.25 per cent after recent economic data showed signs of improvement in domestic demand, both consumption and investment.
"Exports continued to expand well despite lower growth in the latter half of the year. The direct impact of the problems in the US subprime market on the Thai economy had so far been limited. Nonetheless, these problems were likely to be protracted and should be monitored closely," the statement said.
The central bank warned, however, that although inflation remained low, increased risks of upward price pressure compared to the previous meeting due to higher oil prices and the likelihood of price increases for certain essential goods and services.
The MPC's assessment indicated that the growth outlook was comparable to that at the previous meeting while risks to inflation have increased slightly. However, core inflation was expected to remain within the target range for the next eight quarters, the statement said.
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