Thailand central bank keeps policy rate unchanged

Thai central bank's Monetary Policy Committee (MPC) on Wednesday voted to maintain its policy rate unchanged at 2.5 percent. After its meeting on Wednesday, MPC Secretary Paiboon Kittisrikangwan said the MPC unanimously voted to keep the policy rate as it has observed in domestic demand and in exports. Because of the slowdown in domestic demand and exports, growth in the Thai economy has moderated, with private consumption weaker as consumers seek to control rising debt. The MPC secretary also said that it would continue to monitor the rapid change in global economic and financial conditions as well as risks to domestic financial stability.