Finance Minister Korn Chatikavanij said the Bank of Thailand (BoT) plans to raise borrowing costs in the near future.
The Bank of Thailand said it is necessary to revise up the rates back to normal levels as the Thai economy has recovered from the year long recession, Korn said in a speech this Friday in Tokyo.
The Bank of Thailand this week kept its benchmark interest rate unchanged at a five-year low of 1.25 percent, citing need to assess the impacts on the Thai economy following the the anti-government protests this weekend.
Korn said that if the rallies turned violent, the impacts on the Thai economy could be substantial. However, the government is prepared to keep things under control via proper means, Korn added.
