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Thailand raises rates
by hlk Thu 25 Aug 2011, 18:06
BANGKOK: The Bank of Thailand raised its benchmark interest rate by 25 basis points to 3.5% yesterday and said rates were getting closer to normal levels, but it said it was watching government policies closely in case they stoked inflation.
Economists were divided on whether there would be one, two or no more rate rises in the remaining two meetings of the year. One noted a “modest tempering in the hawkish rhetoric as attention shifts towards downside risks to growth”.
They did not think government pressure to hold down rates would be a factor. The new government, which was sworn in this month, would prefer rates to be cut and says tighter policy is in conflict with its pro-growth programme. — Reuters
Economists were divided on whether there would be one, two or no more rate rises in the remaining two meetings of the year. One noted a “modest tempering in the hawkish rhetoric as attention shifts towards downside risks to growth”.
They did not think government pressure to hold down rates would be a factor. The new government, which was sworn in this month, would prefer rates to be cut and says tighter policy is in conflict with its pro-growth programme. — Reuters
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