For the first time in seven years, the Bank of Thailand on Wednesday increased its policy rate by 25 points to 1.75 percent from 1.50 percent.

The Monetary Policy Committee voted 5:2 to raise the one-day repurchase rate to 1.75 percent with immediate effect after the rate was kept unchanged since April 2015, noting that the need to depend on relaxed monetary policy has subsided and it is necessary to reduce the risk of financial stability and to build up policy space in the future.

The Monetary Policy Committee also adjusted down the growth rates for 2018 and 2019 from 4.4 percent to 4.2 percent and from 4.2 percent to 4 percent .respectively.