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Thai central bank keeps key rate at record low, downgrades 2021 GDP outlook


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Thai central bank keeps key rate at record low, downgrades 2021 GDP outlook

 

2020-12-23T072457Z_1_LYNXMPEGBM0EE_RTROPTP_4_THAILAND-ECONOMY-CENBANK.JPG

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

 

BANGKOK (Reuters) - Thailand's central bank left its key interest rate unchanged at a record low on Wednesday, as widely expected, but downgraded its 2021 economic outlook, as the country deals with a fresh outbreak of coronavirus.

 

The Bank of Thailand's (BOT) monetary policy committee voted unanimously to hold the one-day repurchase rate at an all-time low of 0.50% for a fifth straight meeting.

 

All but one of 13 economists in a Reuters poll had expected the BOT to remain on hold after three rate reductions earlier in the year. One analyst saw a 25 basis point cut.

 

The BOT now expects the economy to grow 3.2% next year, rather than expand 3.6% as projected earlier.

 

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Sam Holmes)

 

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-- © Copyright Reuters 2020-12-23
 
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2 hours ago, webfact said:

The Bank of Thailand's (BOT) monetary policy committee voted unanimously to hold the one-day repurchase rate at an all-time low of 0.50% for a fifth straight meeting.

they are too stingy or they have to protect some Hi So investments .... in the mean time baht keeps swinging up and down 555

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