Thailand Base Interest Rate at 0.75%... Raised for the First Time in 4 Years
[Asia Economy Reporter Bu Aeri] The Thai government has raised the benchmark interest rate by 0.25 percentage points. This is a measure to curb inflation and is the first increase in 3 years and 8 months since December 2018.
The Bank of Thailand (BOT) announced on the 10th that it held a Monetary Policy Committee (MPC) meeting and raised the benchmark interest rate from the previous 0.5% to 0.75%.
Thailand had maintained the benchmark interest rate at a record low of 0.5% since May 2020 to support economic recovery.
The central bank forecasted that the Thai economy would return to pre-COVID-19 levels by the end of this year. This is due to a larger-than-expected influx of foreign tourists following the easing of entry restrictions, which in turn is revitalizing private consumption.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
However, the central bank also predicted that the high inflation situation would continue for the time being. The consumer price index is expected to remain at a high level until the end of this year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
