# Monetary Policy Committee’s Decision 3/2023

> 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.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/36220-monetary-policy-committee-s-decision-3-2023
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

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.

## Read by commodity

- USDTHB: bearish ▼

## Sources

- bot.or.th: https://www.bot.or.th/en/news-and-media/news/news-20230531-2.html

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