Central Bank of Thailand

January 25, 2023

Officials today at the Central Bank of Thailand raised their interest rate benchmark from 1.25% to a 3-1/2 year high of 1.50%. This was the fourth 25-basis point increase since last August. CPI inflation rose to a 2-month high in December of 5.9%. That’s still down from August’s peak of 7.9% but well above the December 2021 CPI level of 2.2%. With China reopening to foreign trade, officials at the Bank of Thailand are confident their economy can handle higher interest rates. “Risks of rising demand-side inflationary pressures must be monitored. The policy rate should be normalized to the level that is consistent with sustainable growth in the long term in a gradual and measured manner,” according to a released statement.

Copyright 2023, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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