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Bank of Thailand confident of economic recovery

Thailand’s central bank, the Bank of Thailand (BoT), has insisted that the country’s economic recovery is intact and inflation should ease next year. BoT Governor Sethaput Suthiwartnarueput said the central bank has forecast economic growth of 3.3% for this year and 3.8% next year. The BoT governor, who was speaking at a business seminar in Bangkok, said that rate hikes would be gradual to contain inflation and ensure a continued economic recovery. The central bank earlier raised its key interest rate by a quarter point to 1.00% to tame 14-year high inflation.

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