The Bank of Thailand’s Monetary Policy Committee on Wednesday voted unanimously to maintain the policy rate at 0.50 percent.
Mr. Piti Disyatat, Secretary of the Monetary Policy Committee (MPC), announced the outcome of the meeting on Wednesday.
The Committee assessed that the Thai economy would continue to recover, as the Omicron variant would exert limited pressure on the public health system. Downside risk to growth improved. However, there remained a need to closely monitor developments of the pandemic going forward.
Upside inflationary risks increased, and headline inflation would accelerate in early 2022 owing to the rises in energy and raw food prices.
While demand-side inflationary pressures remained subdued in line with the gradual recovery of household income, there remained a need to monitor global energy prices and broad-based cost pass-through to goods and services.
The Committee viewed that the continued accommodative monetary policy would help support economic growth, and thus voted to maintain the policy rate. (TNA)