MPC ups GDP growth forecast, keeps policy rate
The Bank of Thailand’s Monetary Policy Committee revised up its forecast for this year’s economic growth to 3.4 per cent based on a further recovery of merchandise exports, while leaving the benchmark interest rate unchanged at 1.50 per cent at its meeting on March 29. Jaturong Jantarangs, secretary to the MPC and BOT assistant governor, said gross domestic product was expected to grow at a faster pace than the previous assessment of 3.2 per cent as a result of a more pronounced recovery in goods exports. The MPC also forecast GDP growth of 3.6 per cent next year. The export-growth forecast is moved up to 2.1 per cent for this year, compared with the previous estimate of 0.6 per cent. This year’s estimated expansion in the value of merchandise exports is revised up to 2.2 per cent from the earlier prediction of flat growth.
