Thai central bank holds key rate, cuts 2019 growth, export outlook

THAILAND - BANGKOK. Thailand's central bank held its benchmark interest rate steady for a fourth straight meeting on Wednesday, as widely expected, while cutting its forecast for economic growth and predicting no increase in exports this year.

The Bank of Thailand (BOT)'s monetary policy committee voted unanimously to hold the one-day repurchase rate at 1.75%.

In a Reuters poll, 14 out of 15 economists had predicted no change to policy while the other forecast a quarter-point cut.

The BOT now expects 2019 economic growth of 3.3%, rather than the 3.8% seen three months ago. It predicts exports will be flat, compared with a 3.0% increase seen earlier.

The central bank forecast headline inflation of 1.0% this year, identical with its March projection.

In 2018, Southeast Asia's second-largest economy expanded 4.1%, the highest rate in six years.