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Thai economic recovery to continue but still fragile-central bank minutes

Randy Mancini 4 Feb 22
The headquarters of the Bank of Thailand are pictured near the Chao Phraya river in central Bangkok
FILE PHOTO: The headquarters of the Bank of Thailand are pictured near the Chao Phraya river in central Bangkok, Thailand, February 29, 2016. REUTERS/Athit Perawongmetha

February 23, 2022

BANGKOK (Reuters) – Thailand’s economy would continue to recover in 2022, but recovery would still remain fragile and uneven, as the Omicron variant put less pressure on economic activity than previous COVID-19 outbreaks, according to minutes of the central bank’s last policy meeting released on Wednesday.

While upside inflationary risks had increased and headline inflation could exceed the upper side of the target range of 3% in early 2022, the risks of persistent increases in inflation remained low, the minutes said.

On Feb 9, the Bank of Thailand’s monetary policy committee unanimously voted to leave the benchmark interest rate at a record low for a 14th straight meeting, maintaining support for a fragile economy.

For the full minutes https://www.bot.or.th/English/MonetaryPolicy/MonetPolicyComittee/ReportMPC/Minutes/MPC_Minutes_12022_9ylhzvxs.pdf.

(Reporting by Orathai Sriring; Editing by Ed Davies)