{"id":24595,"date":"2011-10-20T03:40:00","date_gmt":"2011-10-20T07:40:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/10\/20\/bank-of-thailand-keeps-rate-at-3-50\/"},"modified":"2011-10-20T03:40:00","modified_gmt":"2011-10-20T07:40:00","slug":"bank-of-thailand-keeps-rate-at-3-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/10\/20\/bank-of-thailand-keeps-rate-at-3-50\/","title":{"rendered":"Bank of Thailand Keeps Rate at 3.50%"},"content":{"rendered":"<p><a href=\"http:\/\/3.bp.blogspot.com\/-4cRtOaZzi8E\/Tp_RWxsBFLI\/AAAAAAAAAG4\/uFsaSziXbgQ\/s1600\/Thailand-19-10-11.jpg\" imageanchor=\"1\"><img loading=\"lazy\" decoding=\"async\" alt=\"Central Bank News - Thailand Monetary Policy\" border=\"0\" height=\"236\" src=\"http:\/\/3.bp.blogspot.com\/-4cRtOaZzi8E\/Tp_RWxsBFLI\/AAAAAAAAAG4\/uFsaSziXbgQ\/s320\/Thailand-19-10-11.jpg\" title=\"centralbanknews.info - Bank of Thailand holds rate at 3.50%\" width=\"320\" \/><\/a><span><span><span><span>The&nbsp;<\/span><\/span><span><a href=\"http:\/\/www.bot.or.th\/\" target=\"_blank\">Bank of Thailand<\/a>&nbsp;held&nbsp;<\/span><span>its benchmark 1-day bond repurchase rate unchanged at 3.50%. &nbsp;Bank of Thailand Assistant Governor, Mr. Paiboon Kittisrikangwan, said: &#8220;The MPC deemed that the current level of the policy rate is appropriate in addressing upcoming inflationary pressure &nbsp;and supporting economic adjustments amidst heightened uncertainty in the global economy. Meanwhile, with the <a href=\"http:\/\/www.google.com\/hostednews\/afp\/article\/ALeqM5hewzwf9qlrTv1wgoDktgqYQ9Pjhg?docId=CNG.e935d63a651d4bd7084d952d5d3250d9.2d1\">floods<\/a> not yet over, their impact on the economy was not fully evident. The MPC therefore voted 6 to 1 to hold the policy interest rate at the current level of 3.50 per cent, with one vote in favour of a 0.25 per cent decrease. The MPC would remain vigilant in monitoring developments of risks and stand ready to take appropriate policy actions.&#8221;<\/span><\/span><\/span><\/p>\n<div><span><\/span><br \/><a name='more'><\/a><span><span>The Bank of Thailand <a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/bank-of-thailand-raises-repo-rate-25bps.html\">raised the rate<\/a> to 3.50% at its previous meeting, and&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/bank-of-thailand-lifts-interest-rate.html\">increased the&nbsp;interest rate<\/a>&nbsp;in July this year by 25 basis points to 3.25%, continuing a string of monetary policy tightening measures, with the repo rate now 150 basis points higher than the start of the year. &nbsp;Thailand reported core inflation of 2.92% in September, compared to 2.6% in June, 2.48% in May, and 2.07% in April, according to the Commerce Ministry. &nbsp;Headline inflation was&nbsp;<\/span><\/span><span>4.29% in August, 4.08% in July,&nbsp;<\/span><span>4.1% in June, compared to 4.19% in May, and 4.04% in April. &nbsp;The Bank of Thailand has an inflation target range of 0.5% to 3.0%. &nbsp;<\/span><\/div>\n<div><span><span><br \/> <\/span><\/span><\/div>\n<div><span><span>The Thai <a href=\"http:\/\/www.businessweek.com\/news\/2011-10-19\/thailand-holds-rate-as-floods-damage-factories-hurt-growth.html\">economy<\/a> contracted -0.2% in the second quarter, after growing 2% in the March quarter, placing annual GDP growth at 2.6% (3.2% in the previous quarter). &nbsp;The Thai baht (THB) has weakened about 2% against the US dollar this year, the USDTHB exchange rate last traded around 31<\/span><br \/> <\/span><\/p>\n<div><span><span><span><br \/> <\/span><\/span><\/span><\/div>\n<p><span><span><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5344863459705660097?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Bank of Thailand&nbsp;held&nbsp;its benchmark 1-day bond repurchase rate unchanged at 3.50%. &nbsp;Bank of Thailand Assistant Governor, Mr. Paiboon Kittisrikangwan, said: &#8220;The MPC deemed that the current level of the policy rate is appropriate in addressing upcoming inflationary pressure &nbsp;and supporting economic adjustments amidst heightened uncertainty in the global economy. Meanwhile, with the floods not yet &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/10\/20\/bank-of-thailand-keeps-rate-at-3-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank of Thailand Keeps Rate at 3.50%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24595","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24595"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}