US rate cut to deter Thai outflows - Thai c.bank

THAILAND - The Thai central bank said on 28 June that the Federal Reserve's latest cut in U.S. interest rates would help deter the capital outflows from Thailand.

"The Fed's rate cut will reduce the short-term interbank rates in the United States," Bank of Thailand spokesman Bandid Nijathaworn told reporters.

The U.S. Federal Open Market Committee's decided yesterday, 27 June, to cut interest rates a quarter percentage point.

Bandid said the cut would narrow the gap between Thai and overseas int

To continue reading...