Bangkok (VNA ) – The Bank of Thailand (BOT) on August 10 raised its key policy rate by 25 basis points (0.25%) to 0.75%, aiming to keep the country’s increasing inflationary pressures in check.
The BOT forecast that Thailand’s economic growth this year will be 3.3%, up 0.1% from its previous projection. For 2023, it predicted growth of 4.2%, down 0.2%.
The central bank also maintained its forecast that the annual inflation stays at 6.2%.
Raising the interest rate signaled that the BOT was shifting its focus by tightening monetary policy in order to prevent spiraling inflation that could weigh on economic growth .
The BOT also noted that the Thai economy is recovering after the COVID pandemic was controlled./.
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