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Thailand Raises Rates By 25 Bps As Expected

The Bank of Thailand raised its key interest rate for the first time in over three-and-a-half years, on Wednesday, in line with economists' expectations.

The Monetary Policy Committee voted 6 to 1 to raise the policy rate by a quarter basis point to 0.75 percent, the central bank said on its website.

One MPC member sought to raise the policy rate by 50 basis points.

The latest hike was the first since December 2018, when the policy rate was raised by 25 basis points to 1.75 percent.

The previous change in the rate was a quarter point cut in May 2020.

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