BoT unexpectedly raises policy rate by 25bp

Central bank cuts inflation and growth forecasts for 2023, but raises next year’s projections

Bank of Thailand
Bank of Thailand
Photo: George Johnson

The Bank of Thailand unexpectedly raised its key interest rate on September 27, while revising downward its inflation and growth outlook for this year.

The BoT’s monetary policy committee voted unanimously to raise the policy rate by 25 basis points from 2.25% to 2.5%. This is the eighth consecutive increase.

The committee considered the current policy interest rate to be appropriate for supporting long-term sustainable growth, the statement said. In determining future monetary policy, policy

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