Economic recovery likely intact: Bank of Thailand
published : 4 Oct 2022 at 10:14
Thailand's economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday. Bank of Thailand (BoT) Governor Sethaput Suthiwartnarueput was speaking to a business seminar. The BoT has forecast economic growth of 3.3% for this year and 3.8% next year.
Mr Sethaput reiterated that rate hikes would be gradual to contain inflation and ensure a continued economic recovery.
Last week, the BoT raised its key interest rate by a quarter point to 1.00% to tame 14-year high inflation.
The BoT forecast headline inflation of 6.3% for this year and 2.6% next year, compared with the bank’s target range of 1% to 3%.
It expects 9.5 million foreign tourist arrivals this year and 21 million next year, versus nearly 40 million tourists in pre-pandemic 2019.