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Title: Thai central bank hikes key rate by 25 bps to tame inflation

Aug 10, 2022 03:20AM ET

By: AnalysisWatch

Thailand's central bank on Wednesday raised its key interest rate by a quarter of a percentage point for the first time in nearly four years, a move that was expected to combat rising inflation as the economic recovery gathers momentum.

The Bank of Thailand's Monetary Policy Committee (BOT) voted 6-1 to raise the overnight repo rate to 0.75% from a record low of 0.50%, which has not been changed since May 2020.

One member voted for a 0.50 percentage point hike. The rate was last increased in December 2018.

Seventeen of 20 economists polled by Reuters expected a quarter percentage point increase, with the remaining predicting a half percentage point rise.

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