Central bank maintains its policy rate

The MPC assessed that the Thai economy would expand at a lower rate than the previous forecast and would be below its potential due to a decline in exports, which affected employment and domestic demand.
Headline inflation was projected to be below the lower bound of the inflation target.
Overall financial conditions remained accommodative due to the previous two policy rate cuts.
Financial stability risks had already been addressed to some extent, although there remained pockets of risks that warranted monitoring, the MPC said.
The committee viewed that a more accommodative monetary policy in the recent period would contribute to economic growth and support the rise of headline inflation towards the target.
Looking ahead, the committee said it would monitor developments in economic growth, inflation, and financial stability, together with associated risks, in deliberating monetary policy going forward.
The MPC said it stands ready to use policy tools as appropriate.