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Thailand Policymakers Will Not Cut Interest Rates.
Oct. 2--Thai policymakers have ruled out any plans to cut interest rates, saying current rates are appropriate given the current environment.
Prime Minister Thaksin Shinawatra yesterday said local rates were already low and there was no need to reduce rates even if the US Federal Reserve cuts interest rates again later this week.
Mr Thaksin said the Bank of Thailand was monitoring interest and exchange rate conditions closely.
The Federal Open Market Committee is widely expected to cut short-term rates by another one-half point when it meets tomorrow. If so, this would bring US short-term interest rates down to 2.5 percent and represent the ninth cut by the Fed this year.
But Finance Minister Somkid Jatusripitak echoed Mr Thaksin's comments that local rates were appropriate for now. "We have no plans to cut rates at ...
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