Thailand central bank surprises by raising key rate to 2.5%

2023 GDP downgraded to 2.8% due to 'delayed recovery' in exports

20230925 Bank of Thailand

The Bank of Thailand raised its key policy rate to 2.5% on Sept. 27. (Photo by Ken Kobayashi)

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

BANGKOK -- Thailand's central bank on Wednesday brought its policy rate to 2.5%, an eighth-consecutive increase that came in defiance of market expectations and in a bid to keep inflation in check.

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