The MPC voted unanimously to raise the policy rate by 0.25% to 1.25%.

MPC for the last time from 2022 resolved unanimously to raise the policy interest rate by 0.25% from 1% to 1.25%, with a gradual increase in interest rates Under global economic and financial uncertainty

Mr. said Piti Disyatat, secretary of the Monetary Policy Committee or MPC, that the Committee believes that the gradual increase in the interest rate of the policy It is also a guide for the implementation of a policy that is in line with the direction of economic recovery and inflation forecasts. Therefore, a unanimous decision was reached. raising the policy interest rate by 0.25% from 1.00% to 1.25%, effective immediately

At the same time, the MPC lowered the growth rate of the Thai economy this year to 3.2% from the previous 3.3%, and in 2023 to 3.7% from the previous forecast of 3.8%.

The MPC said that the tourism sector in Thailand is a clear recovery reflected by the continued increase in the number of foreign tourists In addition, private consumption supported by better economic activity, employment and labor income. and more widely distributed the tourism sector and private consumption remain an important driving force in 2023 and 2024, but the global economic outlook remains highly uncertain. and may slow down more than expected Including the need to monitor the continued recovery of the tourism sector as well

The MPC estimates that headline inflation this year will be 6.3% and will return to the 3% target in 2023, which puts pressure on next year’s headline inflation. mainly coming from the increase in electricity tariffs In addition, inflation risks must be closely monitored. especially transfer costs which could increase together with domestic energy prices there is still uncertainty if the trend of the Thai economy and inflation change from the estimate The MPC is prepared to further adjust the size and timing of the increase in the policy rate.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.