Banks to remain open
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After consulting local and foreign commercial banks yesterday evening, Bank of Thailand Governor Prasarn Trairatvorakul said financial institutions in Thailand would operate normally even though the Cabinet has declared tomorrow, Friday October 27-28 and
He said the central bank believed the cost of rehabilitation might exceed Bt100 billion and increase inflationary pressure temporarily.
The gross domestic product will grow less than 3 per cent this year because the disaster will cut growth by about 1 percentage point. GDP may expand by about 4 per cent in 2012, he said.
The BOT also reported that 13 commercial banks and a financial firm had temporary closed a total of 283 branches in flood-affected provinces.
