Thai central bank raises policy rate by 25 bps, as expected

Thailand's central bank raised its key interest rate by 25 basis points for a fifth consecutive meeting on Wednesday, as it attempts to bring inflation back within target as the economic recovery gathers steam.

The Bank of Thailand's (BOT) monetary policy committee voted unanimously to raise the one-day repurchase rate to 1.75%. The rate has been hiked by a total of 125 basis points since August.

Of the 22 economists polled by Reuters, 18 had expected the BOT to raise the key rate by a quarter point while the remaining four had forecast no change.

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai and Chayut Setboonsarng)