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| Thailand economic recovery picks pace in fourth quarter | Thailand economic recovery picks pace in fourth quarter |
| (35 minutes later) | |
| Thailand's economic growth exceeded expectations in the last three months of 2012 as it continued to recover from the previous year's devastating floods. | |
| Gross domestic product surged 18.9% in the October-December period, from a year earlier. Most analysts had forecast a figure close to 15%. | Gross domestic product surged 18.9% in the October-December period, from a year earlier. Most analysts had forecast a figure close to 15%. |
| Compared with the previous quarter, the economy grew by 3.6%. | Compared with the previous quarter, the economy grew by 3.6%. |
| Analysts said the data may lessen the pressure on the central bank to ease its monetary policies to spur growth. | |
| "The central bank has been broadly sanguine on its assessment of growth prospects in the longer term and in fact has shown some concern about the pace of loan growth in the economy amidst the expansionary fiscal policies adopted by the current government," said Gundy Cahyadi, an economist with OCBC Bank. | |
| The central bank had cut interest rates in October, bringing down the cost of borrowing to 2.75% from 3%. | |
| However, it has resisted calls to lower the cost of borrowing even further. |