Thailand Raises Key Rate as It Signals Tightening Nears End
- Benchmark repurchase rate raised by 25 basis points to 2.25%
- BOT drops reference to gradual and measured moves in statement
Thailand is set to experience a third straight year of growth acceleration amid a rebound in tourism.
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Thailand’s central bank raised its benchmark interest rate to the highest level in nine years, while signaling it may be nearing the end of its tightening campaign.
While the Bank of Thailand’s Monetary Policy Committee Wednesday voted unanimously to raise the one-day repurchase rate by 25 basis points to 2.25% as widely expected, the clearest sign that they are nearly done boosting borrowing costs came in the language of the policy statement.