A vendor sits at her shop in a market in Bangkok, Thailand. Reuters
Thailand’s central bank (CB) raised interest rates by 25 basis points (bps) on Wednesday, as it attempts to bring inflation back within target while the economic recovery gathers pace against rising global headwinds.
The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to raise the one-day repurchase rate to 1.75 per cent, as expected by 18 of 22 economists in a Reuters poll, for a fifth straight meeting.
The BOT trimmed its growth forecasts for this year and next, pointing to increased global uncertainty, but expected the strength in the tourism sector to lessen the impact of any global slowdown. While it lowered its headline inflation forecast for this year, it increased its 2024 projection.
“The economy has good…
