Thailand holds key rate as expected
The central bank raised growth forecast to 3.4% on increased exports
The Thai central bank held its key interest rate at close to a record low, despite International Monetary Fund recommendations that the country ease monetary policy, reports Bloomberg. Committee members left the one-day bond repurchase rate at 1.5%.
A statement from the central bank revised the GDP growth forecast to 3.4%, up from 3.2%, on an expected 2.2% rise in exports.
The statement also indicated that a strong baht may pose challenges to the economy as Thailand works to boost exports.