Central Banks
Thailand Raises Rate a Third Time as Price Pressures Linger
- 2023 inflation estimate raised on higher electricity prices
- Foreign tourist arrivals seen climbing to 31.5 million in 2024
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Thailand increased its key interest rate by a quarter point for a third straight meeting and raised its inflation estimate for 2023 while reiterating it’s ready to adjust the size and timing of its tightening.
The Bank of Thailand’s monetary policy committee voted unanimously to raise the one-day repurchase rate by 25 basis points to 1.25% on Wednesday, as seen by 20 of 21 economists in a Bloomberg survey, with one predicting no change.