Economics
Bank of Thailand Sees 8.1% Contraction, Pledges More Support
- Central bank left its benchmark rate unchanged at 0.5%
- Policy makers also worried about impact of stronger currency
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The Bank of Thailand held its benchmark interest rate at an all-time low to support an economy it now sees contracting more than 8% this year, the worst on record.
The central bank kept its policy rate at 0.5% on Wednesday in a unanimous decision, in line with the forecasts of all but four of the 26 economists in a Bloomberg survey.