BOT:Thailand's post-flood production will likely return to normal in Q3

BANGKOK, March 22 (TNA) - The Bank of Thailand (BOT) has projected that the country's post-flood production should return to normal in the third quarter of this year, as all key economic indicators have been improving. Paibul Kittisrikangwan, Secretary-General of the BOT's Monetary Policy Committee (MPC), confirmed that the Thai economy has been clearly rebounding, from impacts of the country's flooding crisis late last year. Paibul said that the MPC, therefore, resolved at its latest meeting on Wednesday to keep the BOT's key interest rate unchanged at 3 per cent. Paibul acknowledged the MPC's decision was also based on the fact that risk factors of the world and Asian economies have been relieving, seen by the recovering US economy with increased employment and more confidence among business operators and easing impacts from the European debt crisis, after Greece has reached a landmark deal on its debt restructuring and the European central banks have implemented measures to ensure long-term liquidity in Europe. The MPC chief cautioned, however, that some risk factors of the global economy have remained, including inflation spurred by rising world oil prices caused mainly by political conflicts in the Middle East. (TNA)