Bank Of Thailand Hikes Rate To Fight Inflation

(RTTNews) – Wednesday, in a widely expected move, the Bank of Thailand raised its key interest rate in order to reduce rising inflationary pressures and to support economic growth.

The Bank of Thailand hiked its policy interest rate by 25 basis points to 3.75% per annum with immediate effect. The decision was in line with the consensus forecast. The central bank expects the increase would bring domestic interest rates to the levels that would continue to support economic growth.

In a statement accompanying the monetary policy announcement, the central bank said the rate-setting committee assessed that the risks to inflation remained an important issue of concern given the elevated level of inflation and inflation expectations, as well as uncertainty of oil prices in the periods ahead. However, the apex bank expects a decline in oil prices and the effect of the government’s measures to ease the cost of living to reduce inflationary pressures in the immediate future. Read more…

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