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Updated Thursday, August 26, 2010 11:00 am TWN, AFP

Thailand raises benchmark interest rates for second straight month

BANGKOK -- Thailand raised its benchmark interest rate Wednesday for a second consecutive month after an unexpectedly strong performance by its economy in the face of deadly political unrest. The Bank of Thailand increased its main lending rate by 25 basis points to 1.75 percent, following a quarter-point hike in July — the first in almost two years.

“The Thai economy expanded faster than expected in the second quarter, despite decelerating somewhat from the first quarter due to (the) domestic political situation,” said BoT assistant governor Paiboon Kittisrikangwan.

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