BANGKOK, Dec 19 (TNA) -The Bank of Thailand’s Monetary Policy Committee on Wednesday raises the policy rate for the first time in 7 years.
Secretary of the Monetary Policy Committee (MPC) said the Committee voted 5 to 2 to raise the policy rate by 0.25 percentage point from 1.50 to 1.75 percent, effective immediately.
The Committee viewed that the prolonged low policy rate had contributed to the economy expanding at the level consistent with its potential and the inflation target.
Thus, most members viewed that the need for accommodative monetary policy had reduced, and voted to raise the policy rate at this meeting in order to curb financial stability risks and to start building policy space.
Most members viewed that the policy rate at 1.75 percent would remain conducive to economic growth. (TNA)
