Thailand and China ease monetary policy

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On Wednesday, the Bank of Thailand announced a 25bp cut to its benchmark interest rate, on the same day the People's Bank of China surprised markets by lowering the reserve ratio for banks by 50bp. Paiboon Kittisrikangwan, secretary of the Monetary Policy Committee at the Thai central bank, revealed the rate cut and the reasons for it following the MPC's meeting on Wednesday. "The MPC assessed that the global economic outlook had deteriorated after the impact of the eurozone's sovereign debt