Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years
The Bank of Thailand has increased its policy rate by 25 points, up from 1.50 percent to 1.75 percent. It’s the first rise in seven years.
The Monetary Policy Committee voted 5:2 to raise the one-day repurchase rate to 1.75 percent with immediate effect after the rate was kept unchanged for seven years, noting that the need to depend on relaxed monetary policy has subsided and it is necessary to reduce the risk of financial stability and to build up policy space in the future.
The Monetary Policy Committee also adjusted down the growth rates for 2018 and 2019 from 4.4 percent to 4.2 percent and from 4.2 percent to 4 percent .respectively.
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