MPC maintains interest rate at 2.75%

MPC maintains interest rate at 2.75%

The Bank of Thailand's Monetary Policy Committee voted 5:1 to keep the policy interest rate at 2.75% at its meeting Wednesday.

Thew risks in the world economy increased slightly from the previous meeting following to protracted eurozone economic crisis.

But domestic demand will be bolstered by low unemployment and increases in wages, and the government's spending on a water management system under the 350-billion-baht borrowing emergency decree, the MPC's post-meeting statement said.

"The MPC judges that, given the fragile state of the global economy, a continuation of an accommodative monetary policy stance remains appropriate. However, risks to financial stability, including a volatile exchange rate and capital flows, are a concern," the statement said.

One MPC member voted for an interest rate reduction of a quarter of a percentage point. The seventh member was absent from the meeting.

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