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The Bank of Thailand's Monetary Policy Committee unanimously raised its policy rate by 0.25 percentage point, from 1.00% to 1.25%, effective immediately. The central bank said tourism and private consumption are driving the recovery and that inflation is expected to decline back into the target range within 2023.
It also projected growth of 3.2% in 2022, 3.7% in 2023 and 3.9% in 2024.
A higher Thai policy rate supports the baht by attracting capital inflows, which lowers the local cost of dollar-priced feed imports. Its direct effect on global grain and feed prices is small.
bot.or.thNov 30, 2022Not 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.
