Thai Central Bank Raises Key Interest Rate by 0.25 Percentage Point

[snoop1130]

 

BANGKOK, Nov 30 (TNA) – The Bank of Thailand’s Monetary Policy Committee (MPC) voted unanimously to raise the policy rate by 0.25 percentage point from 1.00 to 1.25 percent, effective immediately, announced MPC Secretary, Piti Disyatat.

 

The BoT said in its statement that Thai economic recovery has continued to gain traction. Tourism and private consumption will continue to be key economic drivers going forward and help alleviate the impact of global slowdown on the Thai economy.

 

Full Story: https://tna.mcot.net/english-news-1067651

 

-- © Copyright Thai News Agency 2022-11-30

 

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[ThailandRyan]

Trying to keep inflation in check it appears. They need to double the amount they just did, or else the dollar will gain ground when the Fed raises the basis points by 50 next month.

[RichardColeman]

13 hours ago, ThailandRyan said:

or else the dollar will gain ground when the Fed raises the basis points by 50 next month.

The increase in US mortgage re-payments per month  is quite staggering now. 

[ThailandRyan]

8 minutes ago, RichardColeman said:

The increase in US mortgage re-payments per month  is quite staggering now. 

Yes it is. I remember buying a house in 2000 and my mortgage rare was 7.9% with a second taken for renovations at 10.5%. 1 year later I refinanced both down to 6.75 and then the next time i refinanced before the market bubble started I had 5.25%.  Which is where it is for someone with Grade A credit right now. The lowest I had it at was 3.25% in 2016.

[jacko45k]

14 hours ago, ThailandRyan said:

Trying to keep inflation in check it appears. They need to double the amount they just did, or else the dollar will gain ground when the Fed raises the basis points by 50 next month.

It would be against the tide if that happened... in the last month the USdollar has weakened against baht from 38/$ to 35/$.

[ThailandRyan]

6 minutes ago, jacko45k said:

It would be against the tide if that happened... in the last month the USdollar has weakened against baht from 38/$ to 35/$.

Which is hard to understand how that 3 baht per dollar drop happened in just mere weeks while the climb up to over 38 took months.

[Elkski]

I'm in awe about the nearly 10% drop of the USD.  

[kwak250]

1 hour ago, ThailandRyan said:

Which is hard to understand how that 3 baht per dollar drop happened in just mere weeks while the climb up to over 38 took months.

You forget this is Thailand.

 

Do not underestimate the mighty baht!

 

Even when everything points to the baht weakening beyond your wildest dreams, some sort of voodoo happens and the baht rises again.