The Committee voted unanimously to maintain the policy rate at 0.50 percent to support the economic recovery which remained highly uncertain.
The Committee assessed that, while the new wave of the COVID-19 outbreak and the containment measures would affect the Thai economy in the short term, the economic recovery continued to be on track thanks to government measures and export recovery.
Uncertainties surrounding the economic outlook remained high
Nevertheless, uncertainties surrounding the economic outlook remained high with considerable downside risks. The economy would thus need support from the continued low policy rate.
The Committee therefore voted to maintain the policy rate at this meeting to preserve the limited policy space to act at the appropriate and most effective timing.
Impact of the recent outbreak on the Thai economy
The Committee assessed that the impact of the recent outbreak on the Thai economy would be less severe than last year due to less strict containment measures.
Additional support from the timely and targeted government measures…