World Economy

Thai Benchmark Rate Unchanged

Thai Benchmark Rate UnchangedThai Benchmark Rate Unchanged

The Bank of Thailand kept its benchmark one-day repurchase rate at 1.5% on Wednesday, citing the effect of recent monetary policy easing and the depreciation of the country’s currency, the baht, Nasdaq reported. The bank’s monetary policy committee voted unanimously to keep the rate at 1.5% for the second month in a row. It made two consecutive rate cuts in March and April in an effort to shore up the economy. “The [monetary policy] committee judged that the conduct of monetary policy has thus far eased monetary conditions, while the direction of exchange rate movement has stayed conducive to the economic recovery,” the central bank said in a statement.