It is time Thailand's fiscal and monetary policies returned to normal, said Finance Minister Arkhom Termpittayapaisith.
He added that the country adopted irregular fiscal and monetary policies over the past two years in order to deal with the impact of the Covid-19 pandemic on the economy. Therefore, the Bank of Thailand did not raise the policy rate during that period.
The central bank's Monetary Policy Committee yesterday voted 6-1 to increase the one-day repurchase rate to 0.75% from a record low of 0.50%, which had remained unchanged since May 2020.
