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Economy

Thailand lifts key rate by 25 basis points to 1% to curb inflation

Central bank eyes gradual tightening, with economy still on recovery course

Thailand's central bank is trying to tame price hikes, with the country's headline inflation hitting a 14-year high of 7.86% in August. (Photo by Ken Kobayashi)

BANGKOK -- Thailand's central bank raised its key policy rate by another 25 basis points on Wednesday to 1.0% for the second consecutive time this year to curb inflation.

"The overall growth and inflation outlook is consistent with the previous assessment. The committee deems that a gradual policy normalization remains an appropriate course for monetary policy," Piti Disyatat, secretary of the monetary policy committee, told a news conference.

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