Thailand Keeps Key Rate as Divided Vote Boosts Dovish Bets
- Panel voted 5-2, with two seeking quarter-point cut to 2.25%
- Thai PM says he disagrees with decision, but can’t interfere
Bank of Thailand governor Sethaput Suthiwart-Narueput.
Photographer: Luke Duggleby/BloombergThis article is for subscribers only.
Thailand’s central bank resisted the government’s call for cheaper borrowing costs as policymakers stood pat on Wednesday, in a decision that showed the first signs of dissent in the rate panel in over a year.
The Monetary Policy Committee voted 5-2 to maintain the one-day repurchase rate steady at a decade-high 2.50%, as predicted by all 24 economists in a Bloomberg survey. That was the first divided outcome in nine meetings, with two of the rate-setters favoring a quarter-point easing.