Thai monetary policy should remain accommodative to help economy: central bank
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BANGKOK] Thailand's central bank said monetary policy should remain accommodative for some time to support an economy hit by the coronavirus pandemic and help inflation return to target.
The Monetary Policy Committee (MPC) expects headline inflation - projected at minus 1.7 per cent this year - to get back to the 1 to 3 per cent target range in the second quarter of 2021, the central bank said in an open letter to the finance minister dated July 8.
"The accommodative monetary policy should be maintained for some period of time to bolster the economic recovery and domestic purchasing power after the Covid-19 spread is under control," it said.
The MPC has cut the policy rate three times this year to a record low of 0.50 per cent. It will next review policy on Aug 5.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
