The Central Bank of Thailand increased the policy rate in the second meeting to curb inflation.
The Central Bank of Thailand increased the policy rate by 25 basis points to 1 percent. Economists surveyed by Bloomberg also predicted this. The decision was taken unanimously. While the Bank kept its 2022 growth forecast at 3.3 percent, it decreased its 2023 forecast from 4.2 percent to 3.8 percent.
The headline inflation forecast for 2022 was raised from 6.2 percent to 6.3 percent, and the 2023 forecast was raised from 2.5 percent to 2.6 percent.
Officials said they are ready to make adjustments if the growth and inflation outlook changes. Inflation in the country reached 7.86 percent last month, the highest in 14 years.
The baht fell 1 percent against the dollar after the rate hike.
