Thai central bank holds policy rate steady

BANGKOK: The Bank of Thailand (BOT), the country’s central bank maintained the policy rate at a low level amid efforts to support economic recovery but lowered its economic growth forecast for 2021. The BOT’s monetary policy committee held the policy rate unchanged at 0.5 per cent, saying the economy continued to recover but downside risks and uncertainties remained high in the period ahead.

“The committee voted to maintain the policy rate at this meeting to preserve the limited policy space to act at the appropriate and most effective timing,” according to a statement on the BOT website.