Bank of Thailand keeps key rate at record low, cuts 2021 GDP outlook

Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, as widely expected, but slightly lowered its 2021 GDP growth forecast after a second wave of coronavirus infections hit economic activity.

The Bank of Thailand’s (BoT) monetary policy committee voted unanimously to hold the one-day repurchase rate at 0.50% for a seventh straight meeting.

All 14 economists in a Reuters poll had expected the BoT to remain on hold after three rate cuts last year.

The BoT now expects the economy to expand 3.0% this year, down from a previous forecast for 3.2%.

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