The Bank of Thailand (BoT) on November 30 raised its policy rate by 25 basis points for a third straight meeting, as it sought to balance between controlling inflation and supporting an economic recovery.
Hanoi (VNA) – The Bank of Thailand (BoT) onNovember 30 raised its policy rate by 25 basis points for a third straightmeeting, as it sought to balance between controlling inflation and supportingan economic recovery.
The bank’s monetary policy committee decided to raise thepolicy rate from 1% to 1.25%, effective immediately.
The move came after a 0.25-percentage-point rate hikeannounced at the monetary policy committee meeting on Sept. 28 and another oneon August 10, the country's first rate hike since late 2018.
The latest rate hike, in line with market expectations,brought the key policy rate to its highest level since February 2020.
According to a BoT statement, Thailand's economic recovery has continued togain traction, with tourism and private consumption remaining key economicdrivers while the financial system is resilient, but the headline inflation isexpected to be higher than the previous projection for 2023 due to domesticenergy prices.
The bank underlined that gradual policy normalisation remains an appropriatecourse for monetary policy given the growth and inflation outlook, adding thatthe size and timing of policy normalissation will be adjusted if needed.
Thailand's inflation growth slowed to 5.98% in October, from6.41% in September.
The BoT expected headline inflation to rise 6.3 percent yearon year in 2022, before declining to 3% in 2023 and 2.1% in 2024. It predictedthat the economy will grow 3.2% in 2022, 3.7% in 2023 and 3.9% in 2024./.
Thailand’s economic growth recorded the fastest pace in over a year, expanding by 4.5% year-on-year in the third quarter of 2022, thanks to tourism rebound, according to data from the National Economic and Social Development Council (NESDC).
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Vietnamese Ambassador to Thailand Phan Chi Thanh and Governor of Thailand’s Udon Thani province Wanchai Kongkasem exchanged views on economic cooperation between the two countries, as well as the demand for collaboration between their localities in their recent working session.
A bus accident has killed at least three people and injured more than 40 others in Thailand's northern province of Tak, local media reported on November 30.
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Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
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The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
A banker count bath at the BoT (Photo: AFP/VNA) 
