By Gokhan Ergocun
ISTANBUL (AA) - The Bank of Thailand raised its policy interest rate by 25 basis points on Wednesday.
The bank’s Monetary Policy Committee unanimously voted for the third hike in a row, which increases the key interest rate to 1.25%.
The bank said Thailand’s inflation rate is expected to be higher in 2023 than previous projections.
“Headline inflation is expected to be at 6.3% in 2022, peaking in the third quarter, before declining to 3.0% in 2023 and 2.1% in 2024,” read a statement.
The Thai economy is projected to grow by 3.2% in 2022, 3.7% in 2023, and 3.9% in 2024, the statement added.