(Bloomberg) -- Thailand's baht, which last month rose to a nine-year high, will drop 6 percent by September as the central bank cuts interest rates to boost growth, said Calyon, the investment banking unit of Credit Agricole SA.
The Thai central bank, which introduced unsuccessful currency controls in December, has lowered the key interest rate three times this year and signaled it may reduce borrowing costs further, as confidence slides on terrorist attacks and investment curbs. The military took power last September, ousting Prime Minister Thaksin Shinawatra, whom they accused of corruption.
Read more at Bloomberg Currencies News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment