BANGKOK: Thailand’s central bank will not raise interest rates from a record low for more than a year in a bid to support an economy still struggling to recover from the pandemic despite a jump in inflation, a Reuters poll found.

       While inflation in the tourism-dependent economy hit a 13-year high in February, driven mainly by higher energy prices, policymakers expect price pressures to be temporary.

       But Russia’s invasion of Ukraine has triggered a spike in global energy and food prices.

       This will make it harder for the Bank of Thailand (BoT) to contain inflation, as found by other central banks who until recently said high inflation was transitory.

       Still, the BoT was expected to keep its policy accommodative to revive growth which has yet to return to pre-pandemic levels due to a subdued tourism recovery and tighter mobility restrictions.

       All 22 economists in a March 16-25 Reuters poll predicted the BoT would leave its one-day repurchase rate at a record low of 0.50% at its March 30 meeting.

       Median forecasts showed no change in rates until the second quarter of 2023. — Reuters