Thai raises key rate by 25 bps to 2.50%

  • Banking
  • Wednesday, 27 Sep 2023

BANGKOK: Thailand's central bank unexpectedly raised its key interest rate for an eighth straight meeting on Wednesday, despite slowing economic growth, below-target inflation and rising global uncertainties.

The Bank of Thailand's (BOT) monetary policy committee voted to hike the one-day repurchase rate by 25 basis points to 2.50%. The rate has now been raised by 200 basis points since last August.

Only six of the 27 economists polled by Reuters had predicted a quarter-point hike while the remaining 21 had forecast no policy change. - Reuters

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