Agence France-Presse. Bangkok
Thailand's Central Bank increased its key rate of interest on Wednesday for the sixth time this year say that inflation was a greater threat than the slowdown in the global economy.
The Bank of Thailand monetary policy Committee voted 5-2 to 3.50%, the highest level in about three years to increase the federal funds rate by 25 basis points.
Thailand lifted to 225 basis points since July 2010, to tame inflation, which is four percent on an annual basis about has its key interest rate.
The latest move came just a day after the Government data showed, that the economy has led to a strong slowdown of exports 0.2% in the second quarter as supply shortages by Japan's earthquake caused shrunk.
"All MPC members see greater risk for growth, but most still see that inflationary risks outweigh risks for growth," said Bank of Thailand Assistant Governor Paiboon Kittisrikangwan.
At the same time, he has planned, that the Bank could mark a break at its next session for October.
"Falling inflation, the rate will be increased,", Paiboon said.
Supavud Saicheua, Senior Economist at Phatra securities, predicted that the Central Bank to raise their prices once again and then be put on hold, would say that there are apparently not too nervous about the global economic.
"I'm more worried about economic uncertainties in Europe and the United States as the Bank of Thailand," Supavud said.
The Central Bank has previously warned that the new Government expected to populist policies, such as a higher minimum wage and increased rice prices for farmers, fuel price pressure.
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| Source: newagebd.com
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