Thai export growth seen slower in H2 than H1-c.bank

July 22 (Reuters) – Thailand’s export growth is expected to slow in the second half from the first due to global economic uncertainty, a deputy governor said on Thursday.

Bandid Nijathaworn told reporters exports were likely to continue growing in the second half from a year earlier but the growth rate would probably be lower than in the first half.

Exports, which account for over 60 percent of GDP, rose 36.6 percent in the first half of this year from a year before, according to Commerce Ministry data. [ID:nTST000029] ($1=32.30 baht) (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)

Thai c.bank sees more policy tightening

July 15 (Reuters) – The Bank of Thailand is likely to tighten monetary policy further after Wednesday’s rate increase, Deputy Governor Bandid Nijathaworn said on Thursday.

“Yesterday’s policy rate rise will probably not be the only one … There is a chance that the rate will move higher in the future,” he told reporters.

“But we cannot tell what level it will go to, depending on economic indicators and inflation,” Bandid said.

The central bank raised its policy rate by 25 basis points to 1.50 percent from a record low of 1.25 percent on Wednesday, the first increase since the global financial crisis, citing the recovery in the economy and rising inflationary pressure across Asia. [ID:nSGE65103A]. (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)

RBI FOCUS-India’s central bank prefers tight leash on cash

June 29 (Reuters) – India’s central bank will keep cash conditions tight in coming weeks to keep a lid on inflation expectations, sources at the Reserve Bank of India (RBI) said, a strong indication that it will keep policy rates on hold until its next review in late July.

A big chunk of cash left India’s banking system this month when the government auctioned telecom licences, tipping the banking system into a net deficit position.

Banks which had been placing their surpluses with the central bank every day turned borrowers. The banking system was on average borrowing around 500 billion Indian rupees ($10.8 billion) every day in June, a big swing from a surplus of 500 billion rupees until early May.

That tightness, however, takes some of the pressure off the RBI from having to raise rates before a July 27 meeting to keep a lid on inflation that has accelerated into the double digits. One deputy governor of the central bank said on Monday the probability of an off-cycle rate increase was very low, given the daily stream of economic developments globally and in India.

“Probability of rate action before policy is very low,” said deputy governor K.C. Chakrabarty, who is not directly linked to monetary policy at the RBI but still has influence on the board.

Central bank sources also told Reuters the RBI is comfortable with the cash strain, which acts as a brake on inflation.

“RBI would like to keep liquidity on the tighter side going ahead as it helps in inflation control,” a RBI official said. “There is no liquidity stress visible on market rates. The call rate has not gone up sharply above the repo rate,” the official said.

However, RBI Deputy Governor Subir Gokarn said recently the central bank would take steps to ease the cash strain if existing measures do not have their desired effect, and investors appear to be reading those remarks at face value — perhaps mistakenly.

“What he meant was in case call rates go through the roof, or there is a large volatility in short-term rates then we could take some measures,” the central bank source said.

MARKET BETS ON EASIER CASH

The interest rate swap market does not suggest a sustained period of tight liquidity. The overnight floating rate benchmark for swaps, the MIBOR, is at 5.5 percent — above fixed rates for tenors ranging up to 11 months.

Three-month certificate of deposit (CD) rates last week fell to around 6.30 percent from 6.45 percent in early June, Thomson Reuters data show.

Cash conditions tightened this month, pushing up the call money rate to a three-month high of 5.50 percent, a quarter point higher than the repo rate at which banks borrow from the RBI.

Outflows towards the 3G and broadband spectrum licences totaled $21.6 billion, with a further $7.6 billion going out as advance tax payments this month — a hoard that New Delhi may not be able to spend fast enough to get that back into circulation.

That, coupled with the RBI’s reluctance to taking more steps to infuse cash given inflation worries, will mean the shortfall in liquidity will persist into July. Banks borrowed 829.15 billion rupees on Thursday from the RBI’s daily repo window, the highest since cash tightened in June.

“We may continue to be in liquidity deficit mode for most of July as government spending has not been very high,” said Anindya Dasgupta, head of treasury at Barclays Capital in Mumbai. “I don’t expect the spending to pick up that much in July.”

Banks are also barely using existing funding windows offered by the RBI, an indication that funding is not overly strained.

For instance, the RBI offered to buy back bonds worth 200 billion rupees in the past two weeks, but banks tendering bonds demanded such high prices that it managed to buy back only 91 billion rupees worth of paper.

“If banks indeed needed money, they would have sold the bonds to us at market levels. But they are not desperate,” the RBI official said.

To some extent, the relative dovishness in the market stems from RBI Governor Duvvuri Subbarao’s comments indicating he is not moving from the bank’s calibrated exit stance.

The effective rate for markets has moved up from the reverse repo to the repo, Subbarao said on June 18, referring to the monetary policy corridor and the fact that banks were now borrowing rather than placing cash with RBI. That acts as a tightening, Subbarao said. [ID:nSGE65H0AD].

Market participants reckon there will therefore be no rate rise before July 27, although a rise in fuel prices announced last week raises the odds somewhat for a move before then. [ID:nSGE65O0AS]

Subbarao also said the repo rate will be the operative rate for the next few weeks, indicating cash conditions will remain tight and the RBI would be doing more lending than accepting of cash in its monetary operations window.

Hitendra Dave, head of global markets at HSBC, said that even beyond July he expected a modest average liquidity surplus of around 200 billion rupees a day. (Editing by Kim Coghill)

Thai exports seen on bullish track in H2 – cenbank

June 25 (Reuters) – Thailand’s bullish export growth during the first half of 2010 is expected to be sustained in the second half despite possible economic slowdown in key euro zone markets, Bank of Thailand Deputy Governor Bandid Nijathaworn said on Friday.

“Exports in May still showed encouraging growth even when we faced an uncertain domestic situation. The good trend should continue in the second half but to what extent will depend mainly on the global economy,” he said.

“Exports to economies in the EU may slow down, but they would be offset by our shipments to Asian markets,” the deputy governor told reporters. (Reporting by Boontiwa Wichakul; Writing by Vithoon Amorn; Editing by Robert Birsel

Indonesia c.bank says sees rupiah 9,100-9,200 in 2010

June 25 (Reuters) – Indonesia’s central bank expects the rupiah to average between 9,100 per dollar and 9,200 per dollar this year, Darmin Nasution, senior deputy governor said on Friday.

(Reporting by Adriana Nina Kusuma; Writing by Fitri Wulandari; Editing by Neil Fullick)

UPDATE 1-India cbank: inflation is bigger worry

June 17 (Reuters) – India’s domestic inflation is a bigger concern than other global factors, Reserve Bank of India Deputy Governor K.C. Chakrabarty said on Thursday.

“As of today inflation is definitely a cause of worry. You see international situation is not that volatile, it has some adverse implications. But I think more than that domestic inflation is definitely a matter of worry,” Chakrabarty told reporters on the sidelines of an industry event.

“Double digit inflation is not an easy thing,” he said.

India’s headline inflation unexpectedly accelerated in May, heightening expectations the Reserve Bank of India (RBI) would raise rates before its scheduled July review despite concerns over Europe’s debt crisis. [ID:nSGE65D0E6] (Reporting by Suvashree Dey Choudhury and Neha D’silva)

India cbank: inflation is bigger worry

June 17 (Reuters) – India’s domestic inflation is a bigger concern than other global factors, Reserve Bank of India Deputy Governor K.C. Chakrabarty said on Thursday. (Reporting by Suvashree Dey Choudhury and Neha D’silva)

Australian cbank worried by euro zone, upbeat on Asia

June 15 (Reuters) – A top Australian central banker on Tuesday said debt problems in the euro zone were worrying as it was not clear they could be solved anytime soon, though strength in Asia would still support the Australian economy.

Reserve Bank of Australia (RBA) Deputy Governor Ric Battellino said some moderation in growth in China would be no bad thing given how fast the economy had been running and could even help Australia manage its mining boom.

“I think, the challenge for the Australian economy for the next few years is going to be how to accommodate this mining boom that’s going on,” Battellino said in response to questions after giving a speech on debt. (Reporting by Wayne Cole)

FACTBOX-Security developments in Iraq, June 13

* BAGHDAD – Fifteen people were killed and dozens wounded when suicide bombers detonated at least one bomb at Iraq’s central bank and gunmen battled troops in what officials said may have been a raid on the vaults. Up to four suicide bombers and three gunmen also died, said a Baghdad security spokesman.

MOSUL – A roadside bomb exploded near an armoured vehicle carrying Nineveh province deputy governor Faisal al-Yawir in central Mosul, 390 km (240 miles) north of Baghdad, police said. Yawir was unhurt.

MOSUL – Gunmen shot dead two policemen in a crowded market in eastern Mosul, police said.

MOSUL – Gunmen killed a woman at a grocery market in western Mosul, police said.

DAQUQ – A bomb targeting a police patrol wounded two policemen in Daquq, 200 km (125 miles) north of Baghdad on Tuesday, police said.

KIRKUK – A roadside bomb targeting an Iraqi army patrol wounded an army officer in southern Kirkuk, 250 km (155 miles) north of Baghdad, police said.

(Compiled by Baghdad newsroom)

UPDATE 1-Sino-Thai, Unique jv bid lowest for Thai rail contracts

BANGKOK, June 2 (Reuters) – Thailand’s Sino-Thai Engineering and Construction STEC.BK and a joint venture between Unique Engineering UNIQ.BK and China’s Sinohydro offered the lowest bids to build elevated sections of Bangkok’s 52 billion baht ($1.60 billion) “blue line” mass transit project.

Analysts said the bidding on Wednesday, which came earlier than the market had expected, was a positive catalyst for the construction sector.

“The winners of these large contracts are expected to be able to deliver much stronger earnings in the future,” Kasikorn Securities analyst Sorapong Jakteerungkul said in a note.

Shares in Sino-Thai, the country’s third-largest construction contractor, jumped 8.7 percent and Unique surged 12.4 percent. The overall market .SETI was just 1.2 percent higher.

Sino-Thai bid 13.38 billion baht ($411 million) for its contract, lower than the 13.5 billion baht from Thailand’s largest construction firm, Italian-Thai Development ITD.BK, 13.59 billion baht from Ch Karnchang CK.BK and 13.42 billion baht from the Sinohydro-Unique joint venture.

The joint venture bid 11.32 billion baht for the third contract, lower than the range of 11.34 billion to 11.55 billion baht bid by three rivals.

The reference price of the third contract is 11.35 billion baht and that of the fourth contract 13.39 billion.

The third and fourth contracts were part of five contracts for the 27-km (16.8-mile) underground and elevated lines that will stretch from central Hua Lumphong to Bang Khae and from Bang Sue in northern Bangkok to Tha Phra.

“The next step is that consultants will examine details of the bids. Then our board will finalise the bidding results this month before forwarding it to the cabinet for approval in July,” Mass Rapid Transit Authority of Thailand (MRTA) Deputy Governor Chaisit Kururat told reporters.

Construction should begin after the companies officially sign contracts with the MRTA, expected in August, he said.

The auction of the first and second contracts to build an underground section of the blue line project is expected to be held by the MRTA in early July, Chaisit said. The government is spending 1.6 trillion baht on infrastructure projects in 2009-2011, including mass transit lines in Bangkok, rural roads and irrigation systems. ($1=32.58 Baht) (Editing by Alan Raybould)

RBI Dy Governor indicates rise in interest rates

Interest rates will only rise in the coming months with the Reserve Bank of India stating it will not digress from the trajectory of monetary tightening set last year. Further, though FII inflows are small and do not pose any risk today, the RBI will consider adopting capital control measures if net inflows cross the benchmark of $100 billion, as it did in 2007.

In an interview with The Indian Express, Subir Gokarn, who took charge as RBI’s Deputy Governor in November 2009, said the apex bank had acted moderately in the last five months with many even criticising it for mild action. But, “there has clearly been acceleration in non-food manufacturing inflation” since January. Core inflation or non-food manufacturing inflation has risen sharply from 0.7 per cent in December 2009 to 6.1 per cent in April 2010.

What is, however, complicating issues for the RBI is the global uncertainty that causes flight of capital to safety (funds shift to US government securities, seen as most safe) making it difficult for the central bank to manage the volatility in exchange rates.

In the last policy statement, RBI did add a structural element, saying that a significant disruption of economic activity may evoke a response from the monetary authority. “But we are not in the business of determining the (exchange rate) level,” he maintained.

When asked if the RBI would pause given the crisis in Eurozone or till it gets a clearer picture of monsoon at home, Gokarn said, a “stop-go” sequence sends out very mixed signals. “The ideal situation when you

are maintaining a trajectory is to take it to its logical conclusion. But this has to be done in a way that doesn’t put you in a situation where you might have to reverse your action without having completed the task, or stop in the middle,” he said.

With the Indian economy powering down post-September 2008, the RBI adopted a very accommodative monetary stance. It slashed the cash reserve ratio (CRR, the portion of deposits banks have to keep with the RBI) by 400 basis points, reduced the repo rate (the rate at which it lends to banks) by 4.25 percentage points and cut reverse repo rate (the rate at which it borrows from banks) by 2.75 percentage points. Besides these, it opened many other conventional as well as non-conventional windows for access to liquidity making available over Rs 5,60,000 crore additional funds.

But with recovery gaining ground, it started withdrawing from the accommodative stance in October 2009 itself by ending some liquidity support measures. In January 2010, it raised the CRR by 75 basis points to 5.75 per cent to suck Rs 36,000 crore out of the system. Taking mid-course action, it hiked repo and reverse repo rates by 25 basis points in March. Finally, announcing its annual policy statement for 2010-11, it hiked the CRR by 25 basis points to 6 per cent and the repo and reverse repo rates too to 5.25 per cent and 3.75 per cent, respectively.

Air strike kills Yemen mediator, tribes hit pipeline

An air strike in Yemen targetting al Qaeda missed its mark and killed a mediator, prompting members of his tribe to blow up an oil pipeline in clashes that followed, a provincial official said on Tuesday.

Separately, a Yemeni government official said a U.S. couple taken hostage by tribesmen were released on Tuesday, a day after they were seized near the capital Sanaa.

A Yemeni website aligned with the opposition said the strike was carried out by a drone, a weapon that Yemen is not believed to have. U.S. forces have used drones in the past in Yemen, but a U.S. diplomat declined to say if Washington was involved.

The strike could heighten anti-U.S. sentiment and broaden al Qaeda’s appeal among powerful Yemeni tribes, threatening efforts to stabilise a country neighbouring oil power Saudi Arabia and busy international shipping lanes, analysts said.

The botched bombing of a U.S. airliner on Dec. 25, claimed by al Qaeda’s Yemen-based wing, spurred Washington to step up security help to President Ali Abdullah Saleh’s government, which faces grave challenges apart from militancy.

The mediator, seeking to persuade al Qaeda members to surrender, was killed in the pre-dawn strike on his car in the mountainous Maarib province that also killed three other people.

“Jaber al-Shabwani, the deputy governor of Maarib, was killed with a number of his relatives and travel companions in an air strike targeting the Wadi Obeida area, where al Qaeda elements are present,” the provincial official said.

U.S. COUPLE RELEASED

On Monday, armed tribesmen kidnapped two U.S. tourists near Sanaa and demanded the release of a relative jailed over a land dispute that was before the courts.

“The Americans have arrived at the interior ministry building in Sanaa,” a government official told Reuters.

Authorities had set up road blocks and arrested dozens of members of the kidnappers’ families to pressure the abductors.

Another official told Reuters that authorities had promised to look into the kidnappers’ demand.

The air strike provoked clashes between the army and members of Shabwani’s tribe, and the tribesmen attacked the pipeline that ferries crude oil from Maarib, east of the capital Sanaa, to the Red Sea coast, the official said.

Clashes with the mediator’s tribe spread from the countryside to Maarib town, where dozens of tribal gunmen opened fire on government buildings, a local official said.

Security officials said angry tribes blocked a main road to Sanaa, stopping trucks carrying cooking gas and petrol.

“Many of the tribes have become increasingly hostile to the Saleh government, and AQAP (al Qaeda in the Arabian Peninsula) have done a better job than some al Qaeda affiliates elsewhere in making inroads into the local population,” said Shadi Hamid, a deputy director at the Brookings Doha Center.

“There is more of an indigenous character to the group, more of a Yemeni character. So it would not be surprising if this incident feeds into more latent support for AQAP,” he added.

The United States and Saudi Arabia want Yemen, which is trying to end a conflict with Shi’ite rebels in the north while separatist sentiment bubbles over in the south, to focus its efforts on fighting al Qaeda, seen as a greater global threat.

Yemen declared war on al Qaeda after the failed December attack, stepping up air strikes on the group, which has vowed attacks against Western targets in the oil-exporting region.

A statement from a top Yemeni security body expressed sorrow for Shabwani’s death and called him a martyr, without saying who carried out the strike or what type of aircraft was used.

A U.S. diplomat would not discuss the attack. Washington backed Sanaa’s fight against al Qaeda by training Yemeni forces, sharing information and providing equipment, and recognised al Qaeda in Yemen was a threat to both countries, he said.

“So we are working together. The Yemeni forces always take the lead in operations carried out in Yemen using some of that support that we have provided for them through training and information sharing,” the diplomat said.

Asked directly if the United States was involved in the strike, he said: “If you want operation-specific details you need to contact the Yemeni government.”

Yemen and U.S. military targeted al Qaeda figures in Yemen, where Osama bin Laden’s father was born, after the September 11, 2001, attacks. A CIA drone fired a missile that killed al Qaeda’s leader in Yemen in 2002.

The latest strike had likely intended to hit Ayed al-Shabwani, an al Qaeda leader whose farm in Maarib province was the target of a strike in January, the provincial official said. Shabwani is a relative of the mediator who was killed.

Shipping companies said there was no impact on exports from the attack on the pipeline, which ferries crude to the Ras Isa offshore export terminal. Authorities could not immediately reach the affected area.

(Additional reporting by William Maclean in London, and Simon Webb and Luke Pachymuthu in Dubai; Writing by Cynthia Johnston and Firouz Sedarat; editing by Ralph Boulton)

Airstrike kills Yemen mediator, tribes hit pipeline

An airstrike in Yemen targeting al Qaeda missed its mark on Tuesday and killed a mediator by mistake, prompting members of his tribe to blow up a crude oil pipeline in clashes that followed, a provincial official said.

The mediator, who had been trying to persuade members of the global militant group to surrender, was killed instantly in a pre-dawn strike on his car in Yemen’s mountainous Maarib province that also killed three other people.

“Jaber al-Shabwani, the deputy governor of Maarib, was killed with a number of his relatives and travel companions in an airstrike targeting the Wadi Obeida area, where al Qaeda elements are present,” said the official, a member of a local council in Maarib, who declined to be named.

“The deputy governor was on a mediation mission to persuade al Qaeda elements to hand themselves over to the authorities, but it seems that the airstrike missed its target and struck his car, killing him instantly in addition to three companions,” he added. Two others were wounded.

The strike provoked clashes between the army and members of Shabwani’s tribe, and the tribesmen attacked the pipeline that ferries crude oil from Maarib, east of the capital Sanaa, to the Red Sea coast, the official said.

He said the pipeline attack was “in response to the killing of the deputy governor of Maarib province”.

Yemen, which borders the world’s top oil exporter Saudi Arabia, moved to the forefront of Western security concerns after al Qaeda’s Yemen-based regional arm claimed responsibility for a failed attempt to bomb a U.S.-bound plane in December.

The United States and Saudi Arabia want Yemen, which is trying to end a conflict with Shi’ite rebels in the north while separatist sentiment bubbles over in the south, to focus its efforts on fighting al Qaeda, which they see as a greater global threat.

NO EXPORT DISRUPTION

Shipping companies said there was no impact on exports from the attack on the pipeline, which ferries crude to the Ras Isa offshore export terminal. Authorities could not immediately reach the affected area.

“There has been no hindrance to exports,” one shipper said. Exports from Ras Isa are about 30,000 barrels per day. The terminal exports Marib Light crude.

Clashes with the tribe, which began in the countryside, spread to Maarib town, where dozens of tribal gunmen opened fire on government buildings, and the army was returning fire. At least seven people were injured, a local official said.

“Units from the army are now fighting the deputy governor’s tribe. It’s turned into a ground battle. There are ground operations,” a Maarib area resident reached by telephone from London said.

Tuesday’s air strike had intended to target Ayed al-Shabwani, an al Qaeda leader whose farm in Maarib province was the target of a similar strike in January, the provincial official said. Shabwani is a relative of the mediator killed in the strike.

(Reporting by Mohammed Ghobari in Sanaa, William Maclean in London, and Simon Webb and Luke Pachymuthu in Dubai; Writing by Cynthia Johnston; editing by Myra MacDonald)

Russian tourists killed in Turkish coach crash

A coach carrying Russian tourists plunged off an overpass near Turkey’s southern resort of Antalya on Tuesday, killing 16 people and injuring dozens more, the region’s deputy governor told Anatolian news agency.

Television pictures showed the wrecked coach lying on its roof after careering off the road and falling some 15 metres to a river bank below.

The early morning crash killed the Turkish driver and tour guide, while the remaining fatalities were Russian tourists who had been heading to Pamukkale in south west Turkey.

Antalya Deputy Governor Mehmet Seyman told state-run Anatolian agency 25 tourists were injured.

Antalya, on the Mediterranean coast, is one of Turkey’s most popular tourist destinations, and visited every year by hundreds of thousands of mainly German, Russian and British tourists.

Russian President Dmitry Medvedev sent his condolences to the families of the dead, the Kremlin said, and ordered Prosecutor-General Yuri Chaika to send investigators to Antalya to join Turkish colleagues in examining the causes of the crash.

Russian news agencies said the Emergencies Ministry would send an airplane to Turkey on Tuesday with doctors, psychologists and equipment to transport the seriously injured.

Turkish coach crash kills 16 people – reports

A coach carrying Russian tourists crashed near Turkey’s southern resort of Antalya on Tuesday, killing 16 people and injuring dozens more, broadcasters and a news agency reported.

Television pictures showed the wrecked coach lying on its roof after leaving the road and falling into a ditch in the early hours of Tuesday. The dead included the Turkish driver and tour guide while the reamining fatalities were Russian tourists.

Antalya Deputy Governor Mehmet Seyman told the state-run Anatolian news agency 16 people were killed in the accident, and 25 tourists were injured. Rescue teams were trying to get the injured out of the coach, he added.

Antalya is one of Turkey’s most popular tourist destinations, and visited every year by hundreds of thousands of mainly German, Russian and British tourists.

RBI to come out with a report on food inflation

Kolkata, May 11 (ANI): Reserve Bank of India (RBI) Deputy Governor Subir Gokarn said the bank would come out with a report on food inflation in a few weeks time.

Talking to reporters here, Gokarn said that the paper would study the impact of monsoon on the food price rise and whether the rise in excessive demand for sugar, milk and pulses indicated a shift in the nutritional choices of the people.

He also said a good monsoon should augur well for the food prices.

“I have no control over the monsoons, I have no idea as to how the monsoon process will play out. We are getting initial forecast of the monsoons being normal but ultimately the process, the path of the food prices in the short term over the next few months will depend significantly how good the monsoons are,” he said.

“So, if we have a normal monsoon across the country we should see the food prices started to come down over the course of the next few months,” he added.

According to the government data, India”s annual food inflation hovered around 16.04 percent for the week ended April 24.

Inflation is spreading to non -food manufactured items, which may keep pressure on overall inflation. Last month, RBI tightened its monetary policy with a view to arresting food inflation from spreading to other sectors.

Last year, the government”s forecast of a normal monsoon proved wrong and the country grappled instead with a baking drought caused by its driest monsoon in 37 years.

Good rainfall would help India”s farm output rebound after last year”s drought, which triggered a sustained rise in inflation that boosted food prices 17.7 percent in the 12 months to April 10, and fuel prices by 12.5 percent. (ANI)

Polish zloty will not gain to 3.6/EUR-cbanker

WARSAW, April 9 (Reuters) – Poland’s central bank deputy governor Witold Kozinski said on Friday he did not expect the zloty to gain to 3.6 units per euro.

“I can’t imagine that the zloty would reach 3.60 (zlotys) per euro,” Kozinski told TVN CNBC.

At 0525 the euro traded at 3.8470 zlotys. (Reporting by Kuba Jaworowski; Editing by Clarence Fernandez)

Japan Kan: explained govt fiscal policy to BOJ

(For more stories on the Japanese economy, click [ID:nECONJP])

Bonds

TOKYO, April 9 (Reuters) – Japanese Finance Minister Naoto Kan said on Friday that he explained the government’s fiscal policy in a meeting with the Bank of Japan’s governor and deputy governor the same day.

Kan, speaking to reporters after the meeting with Prime Minister Yukio Hatoyama, BOJ Governor Masaaki Shirakawa and BOJ Deputy Governor Hirohide Yamaguchi, said the government wanted to keep communicating with the central bank to end deflation and ensure an economic recovery. (Reporting by Tetsushi Kajimoto and Stanley White)

Thai c.bank: Inflation low, no problem to growth

BANGKOK, April 2 (Reuters) – Thailand’s inflation is still low and is not impeding economic growth, Bank of Thailand Deputy Governor Bandid Nijathaworn told reporters on Friday.

Thai annual inflation was a little lower than expected in March at 3.4 percent, down from 3.7 percent in February.

Annual core inflation was 0.4 percent, up slighly from 0.3 percent the previous month but still below the central bank’s target range of 0.5-3.0 percent. (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)

Thai c.bank: Inflation low, no problem to growth

BANGKOK, April 2 (Reuters) – Thailand’s inflation is still low and is not impeding economic growth, Bank of Thailand Deputy Governor Bandid Nijathaworn told reporters on Friday.

Thai annual inflation was a little lower than expected in March at 3.4 percent, down from 3.7 percent in February.

Annual core inflation was 0.4 percent, up slighly from 0.3 percent the previous month but still below the central bank’s target range of 0.5-3.0 percent. (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)