Thai central bank raises interest rate
Source: Agencies |
August 26, 2010, Thursday
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Print Edition
Print Edition
THAILAND'S central bank raised its interest rate by a quarter percentage point yesterday after Southeast Asia's second-largest economy grew at a blistering pace in the first half of the year.
The increase in the benchmark interest rate to 1.75 percent comes after a rise in July that was the first in two years.
Central banks in Asia from Malaysia to India have been raising interest rates in the past few months to stem the threat of higher inflation as the regional economy rebounds from last year's global recession.
Assistant Governor Paiboon Kittisrikangwan said Thailand's economic growth in the first half was "beyond expectation," helped by a rise in household spending and increased productivity.
The increase in the benchmark interest rate to 1.75 percent comes after a rise in July that was the first in two years.
Central banks in Asia from Malaysia to India have been raising interest rates in the past few months to stem the threat of higher inflation as the regional economy rebounds from last year's global recession.
Assistant Governor Paiboon Kittisrikangwan said Thailand's economic growth in the first half was "beyond expectation," helped by a rise in household spending and increased productivity.
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