Thailand’s central bank expects further gradual policy tightening as the benchmark rate is not at neutral levels yet and core inflation remains elevated, officials said. | Reuters
The BOT forecast economic growth of 3.6 percent this year and 3.8 percent next year, with some upside risks. Last year’s growth was 2.6 .percenthas been driven by the tourism sector while exports remain weak. The BOT projects foreign tourist arrivals at 29 million this year and 35.5 million next year.
On May 31, the BOT’s policy committee voted unanimously to raise the one-day repurchase rate by a quarter point to 2 percent, a level last seen eight years ago. “Overall, the monetary policy committee considers that at the moment, the financial condition or the policy interest rate may still be slightly in an accommodative zone compared with the neutral zone,” Piti said.The BOT will next review policy on Aug. 2, when some economists see a pause on rate hikes while others see a further increase.
The central bank’s minutes released on Wednesday warned that the possibility of higher minimum wages could lead to a wage-price spiral.Despite annual headline inflation dropping to 0.53 percent in May and below the central bank’s target range of 1 percent to 3 percent, and the central expects prices to pick up late in the year as demand-driven pressures increase, said Surach Tanboon, senior director of BOT’s monetary policy department.
The BOT forecast average headline inflation at 2.5 percent this year and 2.4 percent next year. It sees core inflation at 2 percent in both years.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GSIS says it cut uncollected loans by 39%The Government Service Insurance System (GSIS) on Tuesday said it was able to reduce its uncollected service loans from its members and pensions by double digits through improved collection efforts after being flagged by the Commission on Audit (COA).
Baca lebih lajut »
Senators express condolences to Pong Biazon’s kin: ‘His memory will live on’MANILA, Philippines — Three senators have filed a resolution urging Senate to express sympathy and condolences over the death of former lawmaker Rodolfo &039;Pong&039; Biazon. Senate
Baca lebih lajut »
Thai star Win Metawin captivates Pinoys at 1st solo fan meeting in ManilaOn June 11, Win (วิน) held his 1st Solo Fan Meeting in Manila at the New Frontier Theater, which marked his return to the Philippines. winmetawin WINinMANILA2023 READ:
Baca lebih lajut »
WATCH: ‘Basketbrawl’ in Mandaue CityMANDAUE CITY, Cebu–A video of a ‘basketbrawl’ in Mandaue City has gone viral on social media. The brawl happened in the fourth quarter of a juniors game (under-21) between Barangay Opao and Barangay Basak in ... CDNDigital
Baca lebih lajut »
EU probing raided fashion firms’ pricing practices -sourcesEU antitrust regulators who raided Kering’s Gucci and other fashion firms in April are looking into how they set prices of handbags and leather goods for distributors, three people with direct knowledge of the matter told Reuters.
Baca lebih lajut »
Positive results for potential first chikungunya vaccineFrench-Austrian drugmaker Valneva’s vaccine candidate against chikungunya, a mosquito-borne virus that causes occasional outbreaks across the world, showed promising results in a large new trial, a study said on Tuesday. | AFP
Baca lebih lajut »