Prasarn pledges loose monetary policy until structural shift bears fruit
Governor urges infrastructure push to catapult Thailand out of middle-income trap
Thailand's central bank governor has vowed to keep monetary conditions in the politically volatile country loose until structural reforms spur faster growth.
The Thai economy grew just 0.7% in 2014, weighed down by falling exports, high household debt, and a stronger baht.
Political uncertainty, meanwhile – Thailand's democratically elected government was toppled in a military coup in May – deterred private investment and scared off tourists.
Earlier this month, the Bank of Thailand (BoT) cut
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