Bloomberg News

Thai Central Bank to Cut 2011 GDP Forecast By More Than 1%

November 02, 2011

Oct. 20 (Bloomberg) -- Thailand’s central bank will cut its forecast for economic growth this year by more than 1 percent, from a current target of 4.1 percent, because of the country’s floods, Governor Prasarn Trairatvorakul said.

The economy may shrink in the fourth quarter from a year earlier, Prasarn told reporters in Bangkok today.

The central bank is prepared to hold a special meeting to discuss monetary policy “if needed,” Prasarn said. The Bank of Thailand yesterday kept its benchmark interest rate on hold.

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net


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