Even though the rate-setting committee's latest minutes warned the country's economic growth might be slightly lower than analysts' projection of 1.5%, economists do not expect a policy rate cut to spur economic growth due to the US Federal Reserve's likely rate normalisation in the near future.
"For 2014 and 2015, the Thai economy was projected to expand at a pace close to the previous assessment. Economic growth for 2014 may be slightly lower than previously expected due to delays in government spending," the Bank of Thailand's Monetary Policy Commitee (MPC) said in its edited minutes from the Aug 6 policy rate call.
"However, private investment and exports should lend greater support to growth the following year."
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