The Thai economy began to stabilise in August, with steady domestic consumption and private investment and a rebound in exports boosted by improving global demand, but the Bank of Thailand refuses to predict whether the economy is on a recovery path.
The central bank, however, at the Monetary Policy Committee's policy rate call on Oct 16 will revise down its 2013 economic growth forecast from 4.2% predicted in July following lower-than-expected economic indicators in July and August.
"It's difficult to say whether the economy is recovering. We're seeing signs of stabilisation in many economic indicators, but a slew of risk factors lies ahead," said Mathee Supapongse, the senior director for macroeconomic and monetary policy.
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