The Thai central bank continues to take more measures to counteract the strengthening baht and potentially weaker economy this year
Expectation going into the decision was a bit of a 50-50, amid recent fears surrounding the Chinese economy and the virus outbreak.
The central bank says that the vote was unanimous and that 2020 economic growth may be below forecast as the coronavirus outbreak looks set to hurt the economy.
For some context, Thailand is an extremely popular tourist destination for Chinese travelers and it relies very heavily on its tourism industry to prop up its economy.
At the same time, officials are also saying that the Thai baht has weakened but is still not in line with fundamentals. That brings us back to this issue pointed out at the start of the year.
USD/THB has risen on the decision to 31.25 but is just off the highs at the moment:
