Thailand raises rates for first time since 2018

Bank of Thailand
Photo: George Johnson

Thailand’s central bank today (August 10) raised its record-low benchmark interest rate for the first time in more than three years to fight inflation, as the country’s economy rebounds amid strong tourism growth.

The Bank of Thailand’s rate-setting committee voted 6–1 to hike the policy rate by 25 basis points to 0.75%.

The only board member who dissented argued that a 50bp rise this time could reduce the risk of having to deliver more aggressive rate increases later.

“The committee judges

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