BANGKOK, Feb. 7 (Xinhua) -- Thailand's central bank held its key interest rate steady on Wednesday, extending the pause for the second straight meeting despite government calls to lower borrowing costs to boost the economy.
The Bank of Thailand (BOT) monetary policy committee voted 5-2 to maintain the policy rate unchanged at 2.50 percent, the highest level since October 2013.
"The current policy interest rate is consistent with preserving macro-financial stability, a key foundation for sustainable growth in the longer term," the BOT said in a statement.
The Thai economy is projected to have slower growth this year due to lower exports and manufacturing activity as global demand softens, said committee secretary Piti Disyatat.
Structural headwinds are limiting merchandise exports and tourism more than expected. Meanwhile, domestic demand continues to be a key economic driver, Piti told a news conference.
Inflation remains low and is forecast to gradually increase towards the target range, but at a slower-than-expected pace, he said.
BOT's decision came after Prime Minister Srettha Thavisin called on the central bank to cut rates to alleviate the burden of the people and to support the economy.
The Southeast Asian country's headline inflation declined 1.11 percent year-on-year in January, dropping below the BOT target range of 1 to 3 percent for the ninth straight month. ■
