The central bank, which tightened monetary policy last month for the first time since 2011, has no target in building policy space, Veerathai Santiprabhob told analysts.

"Accommodative policy is still the MPC's stance," he said referring to the monetary policy committee.

"Building policy space is a secondary target. We will do it when we can but we have no target," he added.

On Dec. 19, the MPC raised the policy rate by 25 basis points to 1.75 percent after holding it steady for more than three years. It will next review policy on Feb. 6.

The central bank has instruments ready to help the economy if it does not growth as expected, and it is not worried about the inflation rate falling below the 1-4 percent target range, Veerathai said.

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Richard Borsuk)