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Thai Central Bank See Inflation Staying in Single Digits |
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Thursday, 14 August 2008 |
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Retreating oil prices are likely to help Thailand avoid double digit inflation according to Bank of Thailand governor Tarisa Watanagase. Speaking on August 9, Tarisa suggested "worries about inflation have eased" although adding "I don't want to say that we have no worries at all." The governor's comments will likely come as welcome news for Finance Minister Surapong Suebwonglee, who has been engaged in a recent verbal tussle with Tarisa and the central bank over its anti-inflationary stance. Surapong has criticised the bank's decision to bump rates by 25 basis to 3.5% in July as unnecessary, adding "this government's policy is growth-targeting, not inflation-targeting."
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