Thailand's central bank says it has decided to keep its benchmark interest rate unchanged at 1.5 percent.

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 percent pace last year. The World Bank is forecasting 2.5 percent growth this year, supported by government spending and tourism.