fxstreet.com 04 Feb, 2021 10:45 am

BoT forecast to keep rates unchanged in 2021 – UOB

BoT forecast to keep rates unchanged in 2021 – UOB
Economist at UOB Group Barnabas Gan reviews the latest interest rate decision by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) ke

Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% as widely expected for the sixth consecutive meeting on 3 February 2021… The decision to keep its policy rate unchanged was voted unanimously by all committee members.” “In all, we keep our call for BOT to leave its benchmark rate unchanged at 0.The central bank added that Thailand’s economic recovery will depend on four key drivers: (1) foreign tourist figures, (2) efficacy and coverage of COVID-19 vaccination, (3) continued and sufficient fiscal support, and (4) condition of the labour market.

Still, Thailand’s economic growth is likely to be uneven, amid pronounced downside risks should COVID-19 worsens.Economist at UOB Group Barnabas Gan reviews the latest interest rate decision by the Bank of Thailand (BoT).

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