Growth outlook below potential, but no crisis yet: BoT governor

Growth outlook below potential, but no crisis yet: BoT governor

Bank of Thailand governor Veerathai Santiprabhob speaks at the National Director Conference 2019 in Bangkok in July. (Bangkok Post file photo)
Bank of Thailand governor Veerathai Santiprabhob speaks at the National Director Conference 2019 in Bangkok in July. (Bangkok Post file photo)

Thailand’s economic growth forecast of 2.8% for this year is below potential, the central bank governor said on Monday, adding the bank was ready to review monetary policy if conditions worsen.

While the Bank of Thailand (BoT) downgraded the 2019 growth outlook from the previous 3.3% rate, "the economy is not in a crisis yet," BoT Governor Veerathai Santiprabhob told reporters.

If economic conditions worsen from the BoT's forecast, it is ready to review monetary policy, he added.

Last week, the BoT left the benchmark policy rate unchanged at 1.50%, after August's surprise cut.


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