BANGKOK, 17 September 2014 – The Monetary Policy Committee (MPC) has resolved to maintain the policy interest rate at 2 percent per annum in hopes of stimulating spending and facilitating economic recovery.
Mr Methee Supapongse, Secretary of the MPC, stated that a unanimous decision was made at the committee’s latest meeting to keep the 2 percent benchmark rate unchanged for another period. The panel viewed that the currently relaxed monetary policy was already appropriate as it could support economic revival and, at the same time, would not put the country at high risk.
Based on the MPC’s assessment, the Eurozone and Japanese economies are still seeing weak recovery and will need to rely on more stimulus measures, whereas the US and Asian economies are growing at their targeted rates.
As for the Thai economy, confidence and spending in the household, business and public sectors have begun to regain some grounds. Tourism is picking up the pace while inflation is at a satisfactory level. Export, however, is hindered by low productivity and soaring prices.
