ID :
203233
Wed, 08/24/2011 - 12:55
Auther :
Shortlink :
http://m.oananews.org//node/203233
The shortlink copeid
BOT raises policy interest rate to curb inflation
BANGKOK, August 24 (TNA) - Assistant Governor of the Bank of Thailand Paibul Kittisrikangwan says the Monetary Policy Committee voted 5-2 to raise the policy interest rate by 0.25 percentage points, from 3.25 percent to 3.5 percent, the highest in three years.
Paibul told reporters on Wednesday that despite the nominal interest rate hike, the real interest rate was still negative 0.35 percents, and the minimum wage increase would likely to cause inflation to rise further.
The interest rate hike was seen as a necessary move to counter rising inflation, which was stoked by the government’s economic stimulus package.
Meanwhile, First Senior Vice President of Kasikorn Bank, Chatchai Payuhaveechai said, with inflation projected at 3.6 to 4 percent, the policy interest rate could rise to as high as 4 percent by the end of this year. (TNA)
Paibul told reporters on Wednesday that despite the nominal interest rate hike, the real interest rate was still negative 0.35 percents, and the minimum wage increase would likely to cause inflation to rise further.
The interest rate hike was seen as a necessary move to counter rising inflation, which was stoked by the government’s economic stimulus package.
Meanwhile, First Senior Vice President of Kasikorn Bank, Chatchai Payuhaveechai said, with inflation projected at 3.6 to 4 percent, the policy interest rate could rise to as high as 4 percent by the end of this year. (TNA)
