Thai CB head urges trade growth to fight deflation

Central Banking staff
14 Nov 2002

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THAILAND - Thai central bank governor Pridiyathorn Devakula said on Thursday that promoting intra-Asia trade was a crucial step in fighting off deflation, which is becoming an increasing threat to the region's economies.

As Japan's struggles have shown, monetary and fiscal policy may not be enough on their own to beat deflation, he told a financial symposium in Tokyo, Reuters reported.

"With a slump of demand in Japan, the European Union, and the United States and with excess production

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