Thailand’s finance minister says his country is in no hurry to raise rates in order to narrow its gap with rising U.S. interest rates, but not all economists agree with the move.
by 25 basis points in August from a record low of 0.5%, and the one-day repurchase rate currently stands at 0.75%. The last time the central bank raised the benchmark rate was almost four years ago in December 2018.
The finance minister also said since global inflation was caused by supply side disruptions, hiking up rates to curb demand might not be an effective approach. Aside from tourism, Termpittayapaisith said the government was expecting increased foreign direct investments in itsThe number of tourists is expected to rise to between 8 million to 10 million next year, about a quarter of pre-Covid numbers, according to Termpittayapaisith.
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