BoT revises down full-year growth forecast to 4.2% | Bangkok Post: business

Business > News

BoT revises down full-year growth forecast to 4.2%

- +

The Bank of Thailand has slashed this year's economic growth forecast to 4.2% due to tepid domestic consumption and the fragile state of the global economic recovery but said rising household debt limits the scope for a policy rate cut. 

"With such high debt, the central bank must be vigilant and does not want to lower the rate. A rate reduction can stimulate the economy for a while but won't help to boost economic growth in the long run," Paiboon Kittisrikangwan, a central bank assistant governor, told a press conference yesterday.

He said if the economic situation changes, the central bank is ready to adjust its policy.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

1 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments