Thailand braves politician's wrath, hikes rates

The Bank of Thailand has raised its key rate a quarter point for the second-straight month to 3.75% despite the Thai finance minister's objections to the July decision.

Surapong Suebwonglee, the finance minister, openly disagreed with the central bank's decision to raise rates for the first time in two years in July. But the central bank's Monetary Policy Committee said Wednesday that high inflation justified a further increase, despite slower-than-expected economic growth in the three months

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