Economic growth could slow down in 2H: Thai central bank BOT (2)

17:05, July 21, 2010      

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Bandid explained that "this leads to more capital inflows to Thailand and other Asian countries, causing the stock market to expand. But, this could produce a bubble economy, making the recovery more fragile."

The BOT will closely monitor the capital inflows' situation to prevent them from destabilizing the Thai economy, the deputy governor said.

Bank of Thailand assistant governor Suchada Kirakul echoed Bandid's remark, according to a report by the Thai News Agency ( TNA).

It is essential for Thailand to be careful of speculative trading of international hedge funds, Suchada has warned.

Amid the economic recovery in Asia, capital inflows have returned to the Asian equity and debt markets on hopes of a high return, she explained.

During July 1-16, net foreign capital flows into Thailand were valued at 14 million U.S. dollars, Suchada said.

And, from the beginning of 2010, net foreign capital flows into Asia were valued at 14,000 million U.S. dollars, she said.

Domestically, it is not worrying as at least there are more foreign tourist arrivals following the end of the political unrest in May, Bandid cited. The tourism sector contributes some 8 to 9 percent to the country's gross domestic product (GDP), he said.

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