Bank of Thailand holds rate, cuts GDP forecast on Covid spike
The Bank of Thailand (BoT) held its key interest rate unchanged and cut its economic forecast a day after lockdown-like measures were extended to more of the country, with two dissenting members saying rates should be lowered even further.
The BoT’s Monetary Policy Committee voted four to two to hold the one-day repurchase rate at a record-low 0.5% for a 10th straight meeting Wednesday. The two dissenters called for a 25-basis point rate cut, the committee’s first split vote since May 2020.
