Thai rates cut with one eye on baht

Thailand's central bank cut its benchmark interest rate, the one-day bond repurchase rate, to 3.25% from 3.5% today, the fifth consecutive cut this year. Thaksin Shinawatra, the assistant governor, told reporters after the rate decision that the cut "will boost private consumption".

The rate cuts are also seen as part of an attempt to see the baht depreciate from its ten-year high against the dollar, and make the country's exports more competitive. Imports have been affected this year by the d