Business

Thai central bank says key rate may stay at record low for 1-2 years

Thailand's benchmark interest rate will probably stay at a record low of 0.5per cent for one or two years until the economy clearly recovers, a senior central bank official said on Monday.

FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok
FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva

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BANGKOK: Thailand's benchmark interest rate will probably stay at a record low of 0.5per cent for one or two years until the economy clearly recovers, a senior central bank official said on Monday.

Inflation may rise temporarily and stagflation is not expected, senior director Don Nakornthab told an economic forum.

(Reporting by Orathai Sriring, Kitiphong Thaichareon, Satawasin Staporncharnchai; Editing by Martin Petty)

Source: Reuters