BANGKOK, Sept. 23 (Xinhua) -- The Thai central bank Wednesday left its key interest rate unchanged at a record low of 0.50 percent while upgrading the Thai GDP outlook slightly as the economy showed signs of recovery from the fallout of the COVID-19 pandemic.
The Bank of Thailand (BoT)'s monetary policy committee voted unanimously to keep the interest rate to its lowest, citing that the low interest rate will help Thais in general go through the current economic low tide.
The BoT also raised its gross domestic product (GDP) forecast for 2020, expecting the economy to shrink 7.8 percent this year compared to a previous forecast of a record 8.1 percent contraction.
"The BoT's policy will remain flexible, however the fiscal policy should be the driving force in a recovery, focusing on jobs and economic restructuring," said BoT assistant governor Titanun Mallikamas.
The central bank revised down next year's forecast to 3.6 percent growth from 5 percent previously. Enditem
