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Economy

Thai central bank holds key rate, as expected

BANGKOK (Reuters) -- Thailand's central bank held its benchmark interest rate steady in a widely expected decision on Wednesday, taking a pause after December's hike as it said the current policy was appropriate for the economy.

The Bank of Thailand (BOT)'s monetary policy committee (MPC) voted 4-2 to hold its one-day repurchase rate at 1.75 percent to support Southeast Asia's second-largest economy, which is projected to continue to gain traction though external demand might slow.

But the two dissenting members favoured a 25 basis point hike. One member was unable to attend the meeting.

All 20 economists polled by Reuters had correctly forecast Wednesday's no-change decision.

At the December meeting the rate was raised by 25 basis points to the current level for the first time since 2011, largely aimed at curbing financial stability risks.

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