Economic recovery likely intact: Bank of Thailand

Economic recovery likely intact: Bank of Thailand

(Reuters file photo)
(Reuters file photo)

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. 


Do you like the content of this article?
COMMENT (10)

More Chinese cities easing Covid curbs

The southern Chinese tech hub of Shenzhen has ended mandatory Covid testing to enter public venues, joining a growing list of local authorities easing the strict social curbs imposed across the country since the pandemic broke out three years ago.

16:57

Russia decries 'dangerous' oil price cap

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a “dangerous” attempt by Western governments to introduce a price cap on its crude exports.

16:19

Freight train derails after loud blast in Songkhla

A freight train derailed after a loud bang that sounded like a bomb blast occurred on a track between Hat Yai and Padang Besar stations in Sadao district of Songkhla on Saturday afternoon. No casualties were reported.

15:16