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Thai central bank raises rates from record low

07-15-2010 09:12 BJT

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Thailand's central bank has raised interest rates by 25 basis points. It's the first rate hike since the global financial crisis. The Bank of Thailand raised its key one-day repo rate from a record low of 1.25 percent as expected.

Analysts say another increase in August is likely to curb growing inflationary pressure in Southeast Asia's second-biggest economy. Thailand joins other Asian Pacific economies, including Australia, India, Malaysia, and South Korea, that have started to wind back loose monetary policies to tackle inflation as their economies recover from the global recession.

Meanwhile, the bank aims to hold core inflation at between 0.5 and 3 percent, and has set policy to achieve that. It forecast annual core inflation is one to two percent this year.

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Editor:Xiong Qu |Source:

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