March 14, 2018 / 11:59 AM / a year ago

Thai growth momentum exceeds expectations: central bank chief

Thailand’s Central Bank Governor Veerathai Santiprabhob is seen during an interview with Reuters at the Bank of Thailand headquarters in Bangkok, Thailand March 14, 2018. REUTERS/Jorge Silva

BANGKOK (Reuters) - The momentum of Thailand’s economic growth has exceeded central bank expectations and recovery has become more broad based, but monetary policy needs to remain accommodative, the central bank governor said on Wednesday.

Veerathai Santiprabhob told Reuters in an interview that benign inflation allowed Thailand to keep interest rates near record lows despite rising a rising trend in global rates.

The most recent central bank economic growth forecast was for 3.9 percent in 2018. A new forecast is due this month.

“The momentum since we announced the last forecast has exceeded our expectation,” Veerathai said.

Reporting by Matthew Tostevin and Orathai Sriring; Editing by Richard Borsuk

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