Thai MPC split over rate hikes, minutes show

The Bank of Thailand’s monetary policy committee was split over its June 8 decision to hold rates, the central bank’s published minutes show.

Thailand’s year-on-year inflation rate rose to 7.1% in May, above the central bank’s target range of 1% to 3%.

Three dissenting members of the seven-member MPC voted to raise the policy rate by 0.25 basis points at its last meeting. They said policy normalisation was warranted given the increased risks to inflation as the economy improved, the minutes

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