Inflation slowing, no need for big rate hikes - central bank

Tourists ride on a tuk-tuk at Ratchaprasong intersection, Bangkok, on Feb 7, 2023. (Photo: Somchai Poomlard)

Thailand's inflation will likely slow down this year and there is no need for the central bank to raise interest rates aggressively like other countries, Bank of Thailand (BoT) deputy governor Mathee Supapongse said on Wednesday.

Policy normalisation will be gradual and will not affect the economy, which is improving this year and will be even better in 2024, Mr Mathee told an economic forum.