Thai headline inflation is expected to remain high throughout 2022, according to the minutes of the Thai central bank meeting on Wednesday.
The Bank of Thailand raised its key interest rate late last month by a quarter percentage point to 1.00%, primarily to slow down inflation and baht depreciation. The central bank will review policy on November 30 as economists expect a further hike.
The minutes also showed that the central bank expected the Thai economy to return to pre-Covid level in 2023 as well as inflation to return to target in the same year.
Furthermore, the Bank of Thailand assured that future rate hikes will be gradual.
