Thai economy is still recovering, says Bank of Thailand

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 on Thai exports, the country's economy will be sustained by a rebound in private consumption and tourism.

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

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