Rate cuts predicted

Rate cuts predicted

HONG KONG (Reuter): Credit Lyonnais Securities Asia chief economist Jim Walker said yesterday he expected a drop in interest rates this year in Thailand, Indonesia and the Philippines, little change in Singapore and a rise in Malaysia.

Walker, speaking at the start of the brokerage firm's annual investment seminar, told reporters he expected a drop of 75 to 100 basis points in Thai interest rates this year, with sharper declines next year.

He said he expected the rate cuts regardless of where U.S. interest rates move.