BANGKOK- Thailand’s central bank raised its key interest rate by 25 basis points for a fourth consecutive meeting on Wednesday, as it attempts to curb high inflation even as the return of Chinese tourists brightens the country’s economic growth prospects.
The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to raise the one-day repurchase rate to 1.50 percent at its first review of the year.
Of 23 economists polled by Reuters, 21 had expected a quarter point hike while the remaining two forecast no change.
Thailand’s economy is expected to continue growing while headline inflation should decline, the central bank said in a statement.
Any further rate hikes would be gradual and measured, it said, but added it stood ready to adjust them as needed.
“The committee deems that a continuing gradual policy normalization is an appropriate course for monetary policy consistent with the growth and inflation outlook,” the BOT said. – Reuters
