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Federal Reserve interest rake hike to have little effect in Thailand.
Byline: Wichit Chantanusornsiri
Jul. 2--The long-anticipated move by the US Federal Reserve to raise short-term interest rates by a quarter-point will have little impact on Thailand, says Prime Minister Thaksin Shinawatra.
He said yesterday global interest rates were already on an upward trend, including Thai rates.
"Actually, we have no need to increase rates at the moment. But if global rates increase, and we stay the same, it could affect capital flows," Mr Thaksin said, adding that monetary policy was the responsibility of the Bank of Thailand.
The Fed yesterday hiked its target rate for overnight loans between banks to 1.25 ...
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Source: HighBeam Research, Federal Reserve interest rake hike to have little effect in Thailand.