Rates pause appropriate for now - central bank chiefPeople buy vegetarian food at a fresh market in Yaowarat, Bangkok's Chinatown. On Wednesday, the central bank unexpectedly raised its key interest rate by a quarter point to 2.50%, the highest in a decade, saying growth and inflation would pick up next year. The BoT chief told reporters the policy objective was getting the landing right and the current rate was appropriate for the economy. The central bank on Wednesday predicted headline inflation at 1.6% this year and 2.6% next year, with core inflation seen at 1.4% and 2.0%, respectively. Despite cutting its 2023 economic growth forecast to 2.8% from 3.6% projected earlier, the central bank raised its 2024 growth outlook to 4.4% from 3.8%.

Source: Bangkok Post September 29, 2023 17:19 UTC