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Thai central bank prioritizes growth over taming inflation for now

Bank of Thailand keeps base rate at 0.5%, hopes for tourism and exports to help

The Bank of Thailand has kept interest rates steady as it considers boosting economic growth to be more important than targeting inflation for now.    © Reuters

BANGKOK -- Thailand's central bank chose to keep its policy rate unchanged despite inflation spiraling above its target, as it prioritized economic recovery from the pandemic over what it considered to be temporary price rises.

The bank kept its one-day repurchase rate at 0.50%, the lowest level since May 2020.

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