Thai central bank says economic recovery likely intact – chief

BANGKOK (Reuters) – Thailand’s economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday.

Bank of Thailand 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.

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 BOT’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.

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