BOT ups growth forecast to 6%
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Bank of Thailand has revised up its 2012 growth forecast, given last year's very low base and quicker-than-expected economic recovery after last year's floods.
At the May 2 meeting, the Monetary Policy Committee agreed that the economy should expand 6 per cent this year, up from the 5.7 per cent estimate announced in March.
"We revised up the growth forecast largely because of lower-than-expected base in 2011 and faster-than-expected recovery for industries," said Paiboon Kittisrikangwan, an assistant governor.
This year's headline inflation forecast is also revised up slightly to 3.5 per cent from the previous projection of 3.4 per cent.
