Thai monetary policy to be measured, support recovery -central bank

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FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok

BANGKOK (Reuters) – Thailand’s monetary policy would be “measured and gradual” to support economic recovery, Bank of Thailand governor Sethaput Suthiwartnarueput told a seminar on Monday.

The economy was recovering gradually, despite a global slowdown, and should reach pre-COVID levels early next year, he said. The central bank governor said the economy was expected to grow 3.3% this year and 3.8% next year, maintaining an earlier forecast.

“The economy should reach pre-pandemic levels later this year or early next,” he said.

The economy would continue to recover gradually despite a global slowdown, supported by consumption and tourism, he said, adding that monetary policy would ensure a “smooth take-off”.

“It is not necessary to aggressively increase rates to manage inflation like others,” he said, adding that inflation peaked in the third quarter this year.

(Reporting by Chayut Setboonsarng, Satawasin Staporncharnchai and Kitiphong Thaichareon; Editing by Ed Davies)

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