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Thailand keeps benchmark interest rate at 1.5 pct

BANGKOK – Thailand’s central bank says it has decided to keep its benchmark interest rate unchanged at 1.5 per cent.

The Bank of Thailand said Wednesday that the economy was recovering but faces rising risks from global uncertainties, including Britain’s recent vote to leave the European Union and China’s slowing growth.

The central bank said in a statement that holding the rate at its current level would allow “policy space” if conditions worsen.

Thailand’s economy grew at a faster than expected 2.8 per cent pace last year. The World Bank is forecasting 2.5 per cent growth this year, supported by government spending and tourism.