Thailand's central bank raised its interest rate by a quarter point as inflation is set to remain high on domestic energy prices.
The Monetary Policy Committee of the Bank of Thailand unanimously decided to raise the policy rate by 0.25 percentage point to 1.25 percent, with immediate effect.
This was the third rate hike this year after a 25 basis point increase each in September and August.
Headline inflation is forecast to be at 6.3 percent this year, unchanged from prior projection. However, the bank has upgraded its inflation forecast for 2023 to 3.0 percent citing the upward adjustment of electricity charges.
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