TEXT-Thai central bank holds policy rate at record low of 0.50%, as expected

BANGKOK, Sept 23 (Reuters) – Following is Wednesday’s statement from Thailand’s central bank after it left the benchmark one-day repurchase rate unchanged at a record low of 0.50%, as expected, and slightly upgraded its economic outlook for this year.

All 18 economists in a Reuters poll had expected the central bank to remain on hold after it already cut rates by 75 basis points so far this year.

TEXT: Titanun Mallikamas, assistant governor and secretary of the Monetary Policy Committee (MPC), announced the outcome of the Sept. 23 meeting as follows:

The Committee voted unanimously to maintain the policy rate at 0.50 percent.

In deliberating their policy decision, the Committee assessed that the Thai economy would contract in 2020 slightly less than the previous forecast, but would expand in 2021 at a lower rate than previously forecasted mainly due to the slow recovery of foreign tourist figures.

The Committee would

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