BANGKOK- Thailand’s central bank left its key interest rate unchanged for a fourth straight meeting on Wednesday, as widely expected, despite repeated calls by the government to lower borrowing costs to help revive Southeast Asia’s second-largest economy.
The Bank of Thailand’s (BOT) monetary policy committee voted 6-1 to hold the one-day repurchase rate at 2.50 percent, the highest in more than a decade.
All but three of 27 economists in a Reuters poll had expected the BOT to keep the rate unchanged this week.
Three economists had predicted a quarter-point cut. The government has repeatedly called for a rate cut to revive the Thai economy, which has lagged regional peers.
Among the 26 economists who provided a rates outlook until the end of 2024, 15 saw them at 2.25 percent or lower by the year’s end, while 11 predicted them to remain steady at 2.50 percent
