BOT keeps key interest rate unchanged at 2%

BANGKOK, December 17 (TNA) - The Bank of Thailand (BOT) has maintained its key interest rate at 2 per cent per annum to support the national economic recovery. The BOT's Monetary Policy Committee (MPC) made the decision with the majority vote at its meeting in Bangkok on Wednesday, reasoning that the 2-per cent repurchase rate is suitable for boosting the national economic growth next year. BOT Assistant Governor Mathee Supapongse, who oversees monetary policies, later told journalists the resolution of the MPC, in which he is the secretary, was based on an idea that the key interest rate already represents an easing monetary policy which suits the Thai economy, expected to recover in 2015. Besides, the 2-per cent repurchase rate should help guarantee Thailand's monetary stability in the long run. Mathee also said the central bank will announce its revision of Thailand's economic growth forecast rates in 2014 and 2015 on December 26. According to the BOT's assistant chief, falling global oil prices currently have resulted in lower production costs and inflation, but deflation is unlikely for Thailand. (TNA)