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The Bank of Thailand is putting domestic needs before external pressure to raise interest rates, Governor Sethaput Suthiwartnarueput said in an interview with Nikkei Asia on May 20. (Photo by Francesca Regalado)
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Interview: Bank of Thailand governor resists pressure to raise rates

Central bank will likely lift 2023 inflation forecast, but keep in target range

FRANCESCA REGALADO, Nikkei staff writer | Thailand

BANGKOK -- The Bank of Thailand will keep the brake on interest rates, even as other central banks begin to tighten monetary policy, as long as inflation in Thailand remains contained to a small set of goods, its governor told Nikkei Asia in an exclusive interview. 

Gov. Sethaput Suthiwartnarueput said the central bank is likely to revise up its inflation forecast for next year above 1.7% due to upside risks such as the war in Ukraine and sanctions on Russia. The new projection would still be within the bank's inflation target range of 1% to 3%.

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