Economic news

Thai rate hikes to be gradual, inflation to stay high through 2022 -central bank minutes

2022.10.11 22:32



© Reuters. FILE PHOTO: Thailand’s central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo

BANGKOK (Reuters) – Thailand’s rate committee raised its key interest rate late last month and noted that headline inflation was set to remain high through 2022, minutes of the meeting showed on Wednesday.

Policy normalisation should be done in a gradual and measured manner consistent with the outlook for growth and inflation, the minutes said.

On Sept. 28, the committee unanimously voted to raise its key interest rate for a second straight meeting, by 25 basis points to 1.00%, to contain inflation. It will next review policy on Nov. 30, when economists expected a further hike.

Headline inflation would remain at a high level through 2022 and the outlook would still be subject to upside risks, the minutes said.

However, the committee had confidence that the economic recovery would continue to gain traction on improving foreign tourist figures while a global economic slowdown would have a limited impact on the Thai economy, the minutes said.

The committee felt that potential labour shortage could affect the economic recovery and create upward pressures on wages in some business sectors, the minutes said.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,051.27 4.18%
ethereum
Ethereum (ETH) $ 3,488.38 2.66%
tether
Tether (USDT) $ 0.999856 0.11%
xrp
XRP (XRP) $ 2.29 1.88%
bnb
BNB (BNB) $ 701.74 1.42%
solana
Solana (SOL) $ 198.13 3.63%
dogecoin
Dogecoin (DOGE) $ 0.331757 3.30%
usd-coin
USDC (USDC) $ 1.00 0.02%
staked-ether
Lido Staked Ether (STETH) $ 3,486.40 2.83%
cardano
Cardano (ADA) $ 0.916537 2.04%
tron
TRON (TRX) $ 0.256404 2.11%
avalanche-2
Avalanche (AVAX) $ 40.92 6.28%
chainlink
Chainlink (LINK) $ 24.78 3.76%
the-open-network
Toncoin (TON) $ 5.85 4.51%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,150.48 2.87%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 3.66%
sui
Sui (SUI) $ 4.54 1.59%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,624.16 3.94%
hedera-hashgraph
Hedera (HBAR) $ 0.30723 2.80%
stellar
Stellar (XLM) $ 0.385928 4.40%
polkadot
Polkadot (DOT) $ 7.40 2.46%
weth
WETH (WETH) $ 3,485.24 2.48%
hyperliquid
Hyperliquid (HYPE) $ 29.18 0.23%
bitcoin-cash
Bitcoin Cash (BCH) $ 463.26 1.47%
leo-token
LEO Token (LEO) $ 9.50 0.92%
uniswap
Uniswap (UNI) $ 14.15 1.99%
litecoin
Litecoin (LTC) $ 107.73 1.63%
pepe
Pepe (PEPE) $ 0.000019 3.65%
bitget-token
Bitget Token (BGB) $ 5.37 17.29%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,682.94 2.60%
near
NEAR Protocol (NEAR) $ 5.49 1.32%
ethena-usde
Ethena USDe (USDE) $ 0.999687 0.06%
aave
Aave (AAVE) $ 381.20 1.29%
internet-computer
Internet Computer (ICP) $ 11.26 5.27%
usds
USDS (USDS) $ 1.00 0.02%
aptos
Aptos (APT) $ 9.63 2.32%
crypto-com-chain
Cronos (CRO) $ 0.159904 0.30%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.517302 2.72%
mantle
Mantle (MNT) $ 1.26 5.66%
vechain
VeChain (VET) $ 0.051982 8.44%
ethereum-classic
Ethereum Classic (ETC) $ 27.48 1.58%
render-token
Render (RENDER) $ 7.67 0.35%
bittensor
Bittensor (TAO) $ 499.94 1.36%
monero
Monero (XMR) $ 197.39 4.76%
whitebit
WhiteBIT Coin (WBT) $ 24.91 2.02%
mantra-dao
MANTRA (OM) $ 3.72 0.60%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.36 0.94%
dai
Dai (DAI) $ 1.00 0.15%
arbitrum
Arbitrum (ARB) $ 0.800535 0.68%
filecoin
Filecoin (FIL) $ 5.33 3.41%