Bank of Thailand governor calls for better inflation model

Sethaput Suthiwartnarueput speaks via video link at the IMF meetings
Sethaput Suthiwartnarueput
Photo: IMF/Cory Hancock

Bank of Thailand governor Sethaput Suthiwartnarueput attacked the Phillips curve in a speech on December 2, arguing that central banks need a better economic model to predict inflation and guide policy.

A radically different economic and financial landscape has forced central banks to rethink their conceptual frameworks for policy-making, Sethaput said at a conference co-hosted by the Bank of Thailand and the Bank for International Settlements.

“Most prominently, the recent surge in inflation

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