BOT votes 52 to hold key rate at 2.50
PM has called repeatedly for rate cut
BOT revised down 2024 GDP forecast to 2.6 from 2.53.0
Market sees rate cut in June review

BANGKOK, April 10 Reuters Thailand39;s central bank left its key interest rate unchanged for a third straight meeting on Wednesday, resisting repeated calls by the government to lower borrowing costs to help revive Southeast Asia39;s secondlargest economy.

The Bank of Thailand39;s BOT monetary policy committee voted 52 to hold the oneday repurchase rate at 2.50, the highest in more than a decade. It had raised the rate by 200 basis points since August 2022 to curb inflation.

The majority of the committee deems that the current policy interest rate is conducive to safeguarding macrofinancial stability, and that the effectiveness of monetary policy on resolving structural impediments is limited, the BOT said in a statement.

Of 26 economists in a Reuters poll, 16 forecast a hold on Wednesday while the other 10 had forecast a quarterpoint cut.

The key rate remains neutral and does not hinder growth, Assistant Governor Piti Disyatat told a briefing, but added that rates would be adjusted if the outlook changes.

The BOT lowered its 2024 GDP growth forecast to 2.6 from 2.53.0 seen earlier. However, the government projects 4 growth this year.

The decision came moments after the government secured funding for its signature 13.8 billion handout scheme, which it said would help boost growth to 5 next year….