Thailand’s Central Bank Governor Expects to Pause Rate Hike “For Now”

Thailand should “pause” its interest rates for now, the central bank governor said on Friday after a raise in policy rate to a decade high this week.

Thailand’s Monetary Policy Committee (MPC) voted unanimously on Wednesday to raise the policy rate by 0.25 percentage point from 2.25 to 2.50 percent. The decision surprised economists from Reuters that had the consensus for a pause, though many Thai experts expected a hike this week and believed that it would be the final one.

“We should pause for now,” said Thailand’s Bank of Thailand Governor Sethaput Suthiwartnarueput on Friday. He noted that the recovery in the kingdom is intact and the currency rate is appropriate.