The Bank of Thailand (BOT) will raise its policy rate by another 25 basis points for the second straight time on Wednesday to combat 14-year high inflation, data from a Reuters poll showed.
22 of the 25 economists surveyed expected the Thai central bank to deliver a 25 basis points increase on its benchmark one-day repurchase rate to 1.00% at the meeting on September 28, 2022, while three economists from the survey believed that BOT will go beyond to 50bps level.
BOT Governor Sethaput Suthiwartnarueput said earlier this month that the central bank would gradually raise interest rates to protect its recovering economy.
The terminal rate for BOT in 2023 is 2.00%, but the range in forecasts go as high as 2.50%.
