# Thai central bank unexpectedly hikes key rate, raises 2024 growth outlook

> The Bank of Thailand unexpectedly raised its key policy rate by 25 basis points on September 27, 2023. The baht pared losses after the decision and traded about 0.5% lower near 36.53 per dollar, down more than 5% year to date.

- Date: 2023-09-27 · published 2023-09-27T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/34373-thai-central-bank-unexpectedly-hikes-key-rate-raises-2024-growth-outlook
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

A stronger-rate, weaker-baht backdrop raises Thai import costs and tightens domestic credit, which can slow feed and livestock expansion. The baht and regional currency pressure can also shape Thai and Asian import demand for feed ingredients priced in dollars.

## Read by commodity

- USDTHB: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/asia/thai-cbank-raises-key-rate-cuts-growth-outlook-2023-09-27/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.