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Bank of Thailand raises key policy rate to 3 year-high of 1.5%

Central bank focused on inflation as regional peers make different moves

The Bank of Thailand has set an inflation target of 1% to 3%. (Source photos by Ken Kobayashi)

BANGKOK -- The Bank of Thailand on Wednesday raised its key interest rate for the fourth consecutive time by 25 basis points to 1.5%, the highest since September 2019, maintaining a tight monetary policy to keep inflation in check at a time when the economy is still recovering from the COVID pandemic.

The rate hike matched market expectations as 21 economists of 23 in a recent poll by Reuters had forecast a rise of 25 bps in the central bank's benchmark one-day repurchase rate. Two others expected no change.

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