Thai Baht Unable to Maintain Rally After Central Bank’s Decision

The Bank of Thailand decided to keep its main interest rate unchanged during today’s policy meeting. The Thai baht attempted to rally after the decision but failed and currently is trading below the opening level.
The central bank stayed put, leaving the policy rate at 2 percent. While policy makers said in the statement that “global economy recovered at a moderate pace”, they had a mixed view on the domestic economy. As a result, the members of Monetary Policy Committee thought that “the current degree of monetary accommodation is still needed given an early stage of recovery”. The vote was unanimous.
USD/THB rose 0.16 percent to 32.2450 as of 10:51 GMT today after falling 0.2 percent earlier.

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