MPC keeps interest rate at 3%

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BANGKOK, 25 July 2012  – The Monetary Policy Committee (MPC) has resolved to maintain the policy interest rate at 3% and to decrease the 2012 GDP projection to 5.7% from 6%. 

The MPC convened a meeting on Wednesday to review the country’s economic situation. The committee said it decided to keep the policy interest rate unchanged at 3% since it was a suitable rate for economic recovery in Thailand at present. The committee also cut this year’s GDP forecast by 0.3% to 5.7% and expected that the 2012 export growth would stand at only 7%, lowered from the previous projection of 8%.

As for inflation, the MPC adjusted the annual headline inflation to 2.9% and core inflation to 2.2%.