THAILAND CUTS RATES, FOLLOWING INDIA, AUSTRALIA, SOUTH KOREA

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May 30, 2013

BANGKOK - The Bank of Thailand has delivered a 25basis points rate cut), joining other regional central banks that have eased over the past month to support growth (India) and reduce currency appreciation pressures (Australia and South Korea). The Thai baht weakened again on the news (along with other regional currencies), continuing a reversal of its previous strength that had been induced by strong capital inflows (the baht is now up by 1.3% against the USD on the year, compared to 6.3% at is multi-year peak in mid-April).