bank of thailand
Thailand's central bank decided to again revise downward its economic growth projection for 2015 as a result of weaker-than-expected export performance and private spending.
The Bank of Thailand left its policy rate unchanged at 1.50% for a third straight meeting. The decision was unanimous, hinting that the MPC does not see any imminent need to cut rate.
Thailand's central bank has revised its projections for several key indicators, including GDP growth for 2015, indicating it has become more pessimistic about the country's economic outlook.
Moody's Investors Service says that its outlook for Thailand's (Baa1 stable) banking system is stable, amid a challenging operating environment.
The Bank of Thailand held its one-day bond repurchase rate at 1.5 percent, with monetary policy committee members voting unanimously in favor.
The Bank of Thailand has readjusted its projection for economic growth to below 3.8% as a result of faltering exports, slow and fragile recovery of Thai economy.
The Bank of Thailand voted to reduce the policy rate by 0.25 percentage point from 1.75 to 1.50 percent per annum with immediate effect.
Thailand's economy remained sluggish in February as private consumption and exports continued to fall, although tourist arrivals shot up 27%.
The central bank of Thailand has revised Thailand growth projection to 3.8%, down 0.2% from 4% earlier, after the country faced slow growth in the fourth quarter last year.
The National Economic and Social Development Board (NESDB) revealed the latest economic figures in 2014 showing the country's economic growth falling to 0.7%