Central bank keeps rate steady at 2% | Bangkok Post: business

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Central bank keeps rate steady at 2%

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Thailand kept its key interest rate unchanged for a second straight meeting as the economy showed signs of a recovery after a military coup ended months of political unrest. 

The Bank of Thailand held its one-day bond repurchase rate at 2%, with monetary policy committee members voting unanimously in favor of the decision, it said in Bangkok today. Nineteen of 22 economists in a Bloomberg News survey predicted the move, with three expecting a quarter percentage point cut.

Consumer confidence rose in May for the first time in 14 months after a military coup on May 22 ended months of violent protests. The junta has lifted a curfew, made payments due to more than 800,000 rice farmers, cut diesel prices, and sped up budget spending in a bid to boost economic growth after gross domestic product contracted in the first quarter.

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