BOT says Thailand needs higher economic growth
Says wants to ensure inflation is not too high
Says current household debt levels higher than desirable

BANGKOK, July 9 Reuters Thailand needs stronger economic growth as the current potential growth rate of about 3 is not high enough to help the economy expand sustainably in the long term, the central bank governor said on Tuesday.

The potential growth rate can be raised by structural reforms, Bank of Thailand Governor Sethaput Suthiwartnarueput told a seminar.

It39;s not enough. 3 is a growth rate we see in rich countries, he said.

As a lowincome country, we need higher longterm, sustainable growth.

The central bank has forecast Southeast Asia39;s secondlargest economy will grow 2.6 this year and 3 next year.

Last year39;s growth of 1.9 lagged regional peers due to weak exports, high household debt and borrowing costs.

Sethaput said the central bank would ensure inflation and living costs were not too high.

Households most impacted by inflation and living costs are grassroots households as they have no assets, no cushions, he said.

He also said current household debt at around 91 of gross domestic product was higher than desirable, but there was no magic solution to debt problems.

For months, Prime Minister Srettha Thavisin has called for a rate cut to revive the economy.

Despite the pressure to ease policy, the BOT held its key interest rate steady at 2.50 for a fourth straight meeting last month. The…