Thai central bank increases key interest rate to 1.50%

[snoop1130]

 

The Bank of Thailand’s Monetary Policy Committee agreed unanimously on Wednesday to raise the key interest rate by 25 basis points, to 1.50%, with immediate effect.

 

The central bank said in its statement that the Thai economy is continuing to recover, thanks to private sector consumption and the Chinese government allowing its citizens to travel abroad, adding that, although exports are contracting, they are expected to rebound next year.

 

Inflation, in general, has slowed, but there is still a risk that it may increase, due to the economic recovery and increased production costs, said the central bank, adding that a consistent and gradual increase in interest rate is the appropriate approach.

 

Full Story: https://www.thaipbsworld.com/thai-central-bank-increases-key-interest-rate-to-1-50/

 

-- © Copyright Thai PBS 2023-01-25

 

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[carbuyer]

So it begins!

[hotchilli]

9 hours ago, snoop1130 said:

Inflation, in general, has slowed, but there is still a risk that it may increase, due to the economic recovery and increased production costs, said the central bank

Increasing prices in electricity and gas being two main factors.

[Cake Monster]

2 hours ago, hotchilli said:

Increasing prices in electricity and gas being two main factors.

Along with a rise in basic wage for workers, this is going to play into the Economy in the form of further Inflation for sure.