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Thailand keeps rates steady

March 21, 2012

BANGKOK, March 21: Thailand’s central bank kept its benchmark interest rate unchanged on Wednesday as it weighed the declining risk from the European debt crisis against rising inflationary pressure.

The Bank of Thailand’s monetary policy committee voted to maintain the rate at 3pc following two cuts in January and November to stimulate the economy following last year’s severe floods. “The risks from the global economy have decreased and the recovery in the Thai economy is gaining momentum. Inflationary pressure has edged up,” Paiboon Kittisrikangwan, secretary of the Monetary Policy Committee, said.—AFP