Thai central bank chief says monetary policy to remain accommodative

[BANGKOK] Thailand's new central bank chief said on Wednesday that monetary policy will remain supportive of the economy, but he added was worried about challenges to growth.

The military seized power in May 2014 to end months of political unrest but has struggled to move Southeast Asia's second-largest economy forward, with exports and consumption stubbornly sluggish.

"Monetary policy in the short term can still support Thailand's economic recovery because we have no stability risks," Bank of Thailand Governor Veerathai Santiprabhob said at his first news conference after taking the top job this month.

He succeeded Prasarn Trairatvorakul, whose five-year term ended.

The BOT's monetary policy committee (MPC) voted to keep the one-day repurchase rate unchanged at 1.50 per cent for a third straight meeting last month.

It next reviews policy on Nov 4, and most economists expect no change for now.

REUTERS