Thai Finance Minister says pace of monetary tightening still 'reasonable'

BANGKOK : Thailand's economy could grow faster than forecast this year as a revival in tourism quickens, while the pace of monetary tightening to stave off inflationary pressures remained"reasonable", the country's finance minister said on Monday.

"Our central bank's interest rate adjustments have been reasonable, not following the Fed but consistent with our economy," said Arkhom.The Bank of Thailand has raised the key rate by a total of 100 basis points since August to 1.50 per cent, though the tightening cycle has been less aggressive than many of its regional peers as Thailand's economic recovery has lagged other Southeast Asian nations.Arkhom said he expected Thai gross domestic product may beat a forecast of 3.

For 2022, he expects the economy to grow about 3 per cent, after the 1.5 per cent expansion in the previous year, which was among the slowest pace in Southeast Asia.Arkhom played down concerns over the impact on the economy of the strength of the Thai currency.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Anwar’s daughter quits as economic adviser over nepotism accusations, joins finance minister’s panelKUALA LUMPUR – Malaysian Prime Minister Anwar Ibrahim’s eldest daughter, Ms Nurul Izzah Anwar, has stepped down as his economic adviser just over a month after her controversial appointment, but will co-chair a secretariat advising the finance minister instead. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

Commentary: Finance companies are desperately trying to figure out Gen Z consumersThis age cohort’s obsession with customised experiences poses significant challenges for companies, says the Financial Times’ Gillian Tett.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »