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Thailand central bank head says stronger growth needed

Reuters
·1 min read
Bangkok's skyline photographed during sunset in Bangkok

SYDNEY (Reuters) - Thailand's economic recovery is uneven and stronger growth is needed, Bank of Thailand Governor Sethaput Suthiwartnarueput told a seminar on Tuesday.

Sethaput said Thailand's potential economic growth rate of about 3% was not high enough. The central bank has forecast economic growth of 2.6% this year and 3% next year. Last year's expansion of 1.9% lagged regional peers.

He also said the central bank would ensure inflation and living costs were not too high.

Despite government calls for policy easing, the BOT held its benchmark interest rate unchanged at 2.50% for a fourth straight meeting last month. The next rate review is on Aug. 21.

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Last week, Sethaput said there was currently no need to cut rates but the central bank was ready to adjust if the outlook shifted.

(Reporting by Orathai Sriring, Thanadech Staporncharnchai, Kitiphong Thaichareon and Chayut Setboonsarng; Editing by John Mair)