BENGALURU: Thailand's central bank will wait for at least a year before raising interest rates from record lows to support the tourism-dependent economy hit hard by coronavirus-related travel restrictions, a Reuters poll found.
That comes despite multi-decade highs for inflation in many countries, including the United States, where the Federal Reserve is due to raise interest rates next month. The central bank was expected to raise its key interest rate to 0.75 per cent in the second quarter of 2023, followed by another 25 basis points in the December quarter of next year.
Indeed, the Thai baht was expected to be one of the best performers among emerging market currencies, rising nearly 3 per cent to 32.07 baht/US$1 in a year, a separate Reuters poll showed.