Kasikorn Research Centre is maintaining its forecast for economic growth in Thailand this year at 3.7%, it said on Friday. The centre lowered, however, its forecast for export growth this year to -1.2% from -0.5%, but said tourism will see more arrivals than previously expected.

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks.