World Economy

Thai CB Holds Key Rate

Thai CB Holds Key RateThai CB Holds Key Rate

Thailand’s central bank kept its benchmark interest rate unchanged for an 11th consecutive meeting, the longest streak on record, as an economic recovery continues to gain momentum, Bloomberg reported. The Bank of Thailand held its one-day bond repurchase rate at 1.5%, with monetary policy committee members voting unanimously in favor, it said in Bangkok on Wednesday. All but one of the 23 economists surveyed by Bloomberg News predicted the decision, with Moody’s Analytics Inc. forecasting a 25 basis-point cut. Consumer confidence rose to a five-month high in August, buoyed by public approval of the nation’s new constitution and better-than-expected economic growth in the second quarter.