BoT warns Thai economy to keep an eye on possible hits from Eurozone debt crisis

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BANGKOK, 7 July 2012 – The central bank has warned of possible hits that Thailand may encounter as the Eurozone debt crisis continues unresolved.

Bank of Thailand (BoT) Governor Prasarn Trairatvorakul said that there remains no light at the end of the tunnel for the financial crisis in Europe.

He stated that that Thai economy may be hit by the latest round of crisis in Eurozone in a number of ways.

The BoT Governor suggested that the crisis may cause a slowdown in Thai exports or a more volatile financial market.

On a bright side, Mr. Prasarn said that Thailand’s current foreign reserves are high enough to keep the baht stable.

In any case, the BoT is keeping a close eye on the country’s liquidity and interest rates in order to help stabilize the local economic growth outlook.