November 4, 2019 / 12:22 PM / 8 days ago

Thai c.bank plans narrower inflation target for 2020 - finance minister

BANGKOK, Nov 4 (Reuters) - Thailand’s finance ministry has agreed with the central bank’s proposed narrower inflation target range for next year, the finance minister said on Monday.

The Bank of Thailand (BOT) currently targets headline inflation in a range of 1-4%, but it reviews the target with the government around the end of each year.

The new target will be submitted to the cabinet for approval, Uttama Savanayana told reporters, but he did not disclose that.

Headline inflation was just 0.11% in October, the lowest in 28 months, and below the BOT’s target range for a fifth straight month. The BOT predicts it will be 0.8% this year.

The central bank previously said structural changes, such as the expansion of e-commerce and heightened price competition, could cause inflation to rise at a slower pace than in the past.

Reporting by Kitiphong Thaichareon Writing by Orathai Sriring Editing by Chizu Nomiyama Editing by

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