Thailand's central bank hikes rate for first time in four years
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.
Bangkok (VNA) – The Bank ofThailand🔯 (BOT) on August 10 raised its key policy rate by 25 b♚asis points (0.25%) to 0.75%, aiming to keep the country's increasing inflationarypressures in check.
The BOT forecast that Thailand's economicgrowth this year will be 3.3%, up 0.1% from its previousprojection. For 2023, it predicted growth of 4.2%, down 0.2%. The central bank alsomaintained its forecast that the annual inflation stays at 6.2%. Raising the interest rate signaledthat the BOT was shifting its focus by tightening monetary policy in order toprevent spiraling inflation that could weigh on economic growth. TheBOT also noted that the Thai economy is recovering after the COVID pandemic was controlled./.
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Illustrative image (Photo: ledgerinsights.com) 
