Laotian central bank raises rates amid high inflation
Inflation in Laos has been above 20% due to weak local currency
The Laotian central bank raised its policy rate for the fifth time in two years, as the South-east Asian country suffers from high inflation and a weakening currency.
The Bank of the Lao PDR decided to raise its interest rate for short-term loans from 8.5% to 10% on June 12, the Laotian Times reported on June 21. The central bank has raised rates by 690 basis points since May 2022.
Consumer price inflation was 25.77% year on year in May, compared with 24.98% in the previous month and a peak of 41
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