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Thai central bank needed to preserve limited firepower - minutes


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Thai central bank needed to preserve limited firepower - minutes

 

2020-12-02T022343Z_1_LYNXMPEGB103C_RTROPTP_4_THAILAND-ECONOMY-RATES.JPG

FILE PHOTO: The Bank of Thailand logo is seen in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's central bank saw a need to preserve limited monetary policy room to use at the most effective time, when it kept its benchmark rate steady at a record low last month, meeting minutes showed on Wednesday.

 

On Nov. 18, the Bank of Thailand's (BOT) monetary policy committee voted unanimously to leave the one-day repurchase rate at a record low of 0.50% for a fourth straight meeting after three cuts earlier this year to support a coronavirus-hit economy.

 

The committee was also worried about the rapid rise in the baht as it affected the country's fragile economic recovery, the minutes said.

 

The committee would consider necessary measures "to ensure that the exchange rate movements would not be an obstacle to economic recovery", the minutes said.

 

(Reporting by Orathai Sriring; Editing by Ed Davies)

 

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-- © Copyright Reuters 2020-12-02
 
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