Thailand’s central bank raised its key interest rate by 25 bps to 2.5%. It also signaled no immediate need for further hikes. The bank adjusted its GDP and inflation forecasts: 2023 GDP growth was lowered to 2.8% from 3.6%, with an optimistic 4.4% growth expected in 2024. Meanwhile, inflation predictions were adjusted to an average of 1.6% for 2023 and 2.6% for 2024, within the BOT’s target range. Over the past month, the baht depreciated by more than 4%, making it the weakest among the twelve Asian currencies tracked by Bloomberg.