Thai central bank holds key rate, agrees to cut growth forecasts

Bangkok

THAILAND's central bank left its benchmark interest rate unchanged at 2 per cent on Wednesday, as expected, saying the level is low enough to support the country's "weaker-than-expected" economic recovery.

The Bank of Thailand (BOT) said that it has set reduced economic forecasts, which will be released on Dec 26. The existing forecasts, made in September, are for 1.5 per cent growth this year and 4.8 per cent in 2015.