Thailand Holds Benchmark Interest Rate at 0.50% amidst Pandemic 3rd Wave

The Monetary Policy Committee (MPC) ​on May 5, 2021, voted unanimously to hold the benchmark interest rate at 0.50% per annum as Thailand could fall into an economic recession amidst the resurgence of Covid-19 outbreak. 

 

The pandemic third wave is expected to make a great impact on public spending and tourism recovery.

 

MPC said Thailand as of now should make Covid-19 vaccinations a priority, together with diversifying liquidity to businesses and households that are further affected by the new outbreak, suggesting the government to impose new financial relief programs, in particular the borrowers debt holiday.