Thailand's Central Bank Deputy Governor Mathee Supapongse, gestures during an interview at the Bank of Thailand in Bangkok. Reuters, Chaiwat Subprasom

The Thai central bank held its key interest rate at close to a record low, despite International Monetary Fund recommendations that the country ease monetary policy, reports Bloomberg. Committee members left the one-day bond repurchase rate at 1.5%.

A statement from the central bank revised the GDP growth forecast to 3.4%, up from 3.2%, on an expected 2.2% rise in exports.

The statement also indicated that a strong baht may pose challenges to the economy as Thailand works to boost exports.

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