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Thai central bank governor says there's no need to 'undertake heroically large rate hikes'

CNBC Asia LogoCNBC Asia3 mo ago

Thai central bank governor says there's no need to 'undertake heroically large rate hikes'

Quick Summary

On Wednesday, the Bank of Thailand raised its key interest rate for the first time since 2018 as inflationary pressures continue to weigh on the economy.

Sodhani said travelers coming from the latter regions tend to book shorter trips, thus spending less."Overall tourism will continue to boost growth, but not in a proportionate way to the number of tourists," Sodhani added.

Sodhani supported the central bank's modest hike, saying the country's economic growth is not "good enough" to warrant a 50-basis-point increase.

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News Analysis

Author / Journalist:

Category: Nation Politics

Topics: COVID-19 Asia News Asia Economy Thailand Coronavirus: Reopening the economy Inflation Central Banks Cnbc Articles Central banking Source:tagname:CNBC Asia Source Interest Rates

Source Website Secure: Yes (HTTPS)

Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

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Readership Location: United States

Published Date: 2022-08-11, 08:12:10

News Timezone: GMT +8:00

Language: English

Original Article Length: 704 words

Reading Duration: 4 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 1540566

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Name: CNBC Asia

Main Topics: NationPolitics

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Update Frequency: 2 posts per day

Last Update: 3 mo ago

Headquarters: United States

Coverage Areas: United States

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