BANGKOK, Aug 19 (Reuters) – Thailand’s central bank will lower its 2019 economic growth forecast of 3.3% as growth slows amid rising global trade protectionism, the governor said on Monday.
The central bank is also worried about strength in the baht but it has only acted on excessive moves in the currency, Bank of Thailand Governor Veerathai Santiprabhob told a central bank seminar in the northeastern Khon Kaen province.
The central bank will review its economic forecasts at its next policy meeting on Sept. 25. In June, the central bank cut its 2019 GDP forecast to 3.3% from 3.8%. The economy grew by 4.1% last year.
Southeast Asia’s second-largest economy on Monday reported second quarter growth of 2.3%, its weakest annual growth in nearly five years. First-half growth is 2.6%. (Reporting by Orathai Sriring and Satawasin Staporncharnchai Editing by Darren Schuettler)