BANGKOK (NNT) – The Bank of Thailand (BOT) has reported that the Thai economy is facing several challenges due to global volatility but is still on its way to recovery. Despite the slowdown’s impact on Thai exports, the country’s economy will be sustained by a resurgence in private consumption and tourism.

According to BOT Governor Sethaput Suthiwartnarueput, any further interest rate hikes will be gradual and calculated, and the BOT is ready to adjust the pace if necessary. He noted that, unlike other economies, aggressive rate hikes are not appropriate for Thailand as it is still in its early stages of recovery and inflation is lowering.

Full story: National News Bureau of Thailand

Reporter: Paul Rujopakarn,
Rewriter: Paphamon Arayasukawat
National News Bureau of Thailand