Thai rates set to remain at 3.5% amid widespread floods

Thailand's central bankers meet on Wednesday to decide on the cost of borrowing as the country battles the worst floods in 50 years.

With 30% of Bangkok's industrial zone underwater and fears economic growth could be cut by more than 1.5%, the Bank of Thailand may put rate rises on hold after seven such increases.

Santitarn Sathirathai, Thailand economist at Credit Suisse, says there's no need for the central bank to cut rates just yet.