Thai central bank leaves policy rate unchanged at record low, as expected

Thai central bank leaves policy rate unchanged at record low, as expected

FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo

BANGKOK (Reuters) - Thailand's central bank left its key interest rate unchanged at a record low on Wednesday but downgraded its economic outlook for the year due to the impact of the coronavirus pandemic.

The Bank of Thailand's (BOT) monetary policy committee voted unanimously to keep the one-day repurchase rate <THCBIR=ECI> steady at a record low of 0.50%, after having cut it three times this year.

In a Reuters poll, 17 of 20 economists had predicted no policy change while the rest forecast a quarter-point cut.

The central bank now predicts the economy will shrink 8.1% this year, rather than contract 5.3% as projected three months ago.

(Reporting by Orathai Sriring, Kitphong Thaichareon and Satawasin Staporncharnchai; Editing by Jacqueline Wong)