Thailand holds interest rate after army takeover

Breaking News June 18, 2014 00:00

Thailand's central bank held its key interest rate Wednesday, in its first monetary policy decision since the army toppled a civilian government whose spending plans were hamstrung by months of political turmoil.

The Bank of Thailand kept its policy rate at 2.00 per cent, a level set in March in an effort to boost a flagging economy which shrank 2.1 per cent quarter-on-quarter in the first three months of 2014.
The move comes as Thailand tries to stave off recession after months of economic gloom caused by a political crisis which chilled government spending, weakened business confidence and frightened off tourists.

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