BANGKOK, Dec 19 (Reuters) – Thailand’s economy should continue to recover and its overall financial stability remains sound, while financial tightening globally has had a limited impact on the country’s financial conditions, the central bank said on Monday.
A gradual rate increase is still an approach consistent with Thailand’s recovery and inflation outlook, but the central bank is ready to adjust the pace if the outlook shifts, it said in a statement issued for an analysts’ meeting.
Southeast Asia’s second-largest economy will continue to be supported by a recovery in private consumption and the vital tourism sector, the central bank said.
The recovery and inflation outlook have been in line with expectations and long-term inflation expectations remained anchored, it said.
The central bank has forecast the economy will expand 3.2% this year and 3.7% in 2023.
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