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The Bank of Thailand's Monetary Policy Committee voted unanimously to raise its policy rate by 0.25 percentage point, from 1.75% to 2.00%, effective immediately. The committee said growth is driven mainly by tourism and private consumption, with core inflation still elevated.
It projected growth of 3.6% in 2023 and 3.8% in 2024 and expects headline inflation to return to the target range.
A higher Thai policy rate supports the baht, which lowers the cost of imported feed inputs priced in dollars for Thai buyers. The effect on global grain and oilseed prices is small.
bot.or.thMay 31, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
