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Thailand Signals Gradual Moves After First Hike Since 2018

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A tuk-tuk on Khaosan Road in Bangkok, on July 2. 

A tuk-tuk on Khaosan Road in Bangkok, on July 2. 

Photographer: Andre Malerba/Bloomberg
Updated on

Thailand’s central bank raised the benchmark policy rate for the first time in more than three years, and signaled sticking with measured moves going forward to fight inflation without derailing the economy’s recovery.

The bank’s monetary policy committee on Wednesday decided to increase the one-day repurchase rate by 25 basis points to 0.75% as forecast by 24 of 27 economists in a Bloomberg survey. The remaining three had predicted a 50-basis-point hike. The rate was last increased in December 2018.