"Going forward, the committee concurred that sufficiently accommodative monetary policy remained necessary given economic growth is still in the early stages and not yet broad-based. The committee stands ready to utilise an appropriate mix of policy tools to support economic growth and ensure financial stability," it said. Economists forecast the MPC will hold the rate steady throughout this year. The MPC also raised its economic growth forecast for this year to 3.4%, up from 3.2%, while predicting 3.6% GDP growth in 2018. The edited minutes said domestic demand continued to recover at a gradual pace, and did not gain much so far from the increase in exports.

Source: Bangkok Post April 12, 2017 23:26 UTC