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| By Manager Online | 11 March 2010 11:21 |
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March 11, 2010
BANGKOK (AFP) - Thailand's central bank Wednesday kept its key interest rate unchanged at 1.25 percent, citing the country's political instability including anti-government protests this weekend.
The Bank of Thailand's monetary policy committee maintained the same rate for the seventh consecutive meeting since April last year as the kingdom emerges from the global economic crisis.
It said that while the economy had expanded more than expected in the last quarter of 2009, with continued momentum in the export and tourism sectors, there was still high unemployment and public debt.
"The committee took into consideration the persistent uncertainties of the global economic recovery, coupled with domestic risk factors that may affect consumers as well as investor confidence," the bank said in a statement.
Protesters loyal to fugitive former premier Thaksin Shinawatra, who was ousted in a coup in 2006, plan to hold a so-called "million man march" in Bangkok this weekend in a bid to force out the government.
Thai authorities are on high alert and say they will deploy tens of thousands of security forces for the rally.
Bank of Thailand assistant governor Paiboon Kittisrikangwan said the committee would likely raise the rate in its next meeting on April 21 if there is no violence at the rally and if the economic recovery continues.
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