Thai central bank to boost economy next year

Bangkok, Dec 20 (IANS) The Bank of Thailand is set to focus on driving economic growth and foreign exchange management next year, the media reported on Sunday.

The current low rate of inflation allows the central bank to focus more on other factors, deputy governor Mathee Supapongse said.

Mathee said there has been more room to use monetary policy to support the government’s policy of stimulating economic growth and managing foreign exchange rates, the Bangkok Post reported.

He said the central bank’s inflation target for next year is being deliberated by the finance ministry before being sent to cabinet for approval.

This year, the central bank set headline inflation targets – which include the price of fresh foods and energy – of 2.5 percent, plus or minus 1.5 percent, on an average.

Headline inflation in November showed the economy contracted by 0.97 percent, due mainly to the drop in oil prices.

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