RP leave key rates unchanged

RP leave key rates unchanged

MANILA: Philippine monetary authorities on Thursday said they
were keeping key interest rates unchanged amid signs that
inflation will remain under control and with economic growth
hitting target levels.

The central bank's overnight borrowing rates will remain at
6.75 percent while overnight lending rates will stay at 9.0
percent, it said in a statement.

The decision to leave rates untouched was based on
"expectations of benign inflation," which is likely to stay
within the government forecast of 4.0-5.0 percent this year, it
said.

"The (central bank's) monetary policy stance should continue
to ensure the presence of adequate liquidity to support the
growth in domestic demand," it added. -- AFP

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Money-Thailand-ratings
Moody's puts Thai rating on review
JP/14/Thai

Moody's puts Thai rating on review

BANGKOK: Moody's Investors Service put Thailand's foreign
currency ratings on review for a possible upgrade on Thursday,
citing strong exports and economic growth prospects, and an
improving external payments position.

"Thailand's external debt profile has steadily improved in the
years following the 1997 financial crisis ... and with that its
vulnerability to external shocks significantly reduced," Moody's
said in a statement.

The review was ordered "in light of the strengthening of the
country's external payments position, its resilient export
performance, and its good prospects for continued economic growth
and stability," it said.

However, the international ratings agency said concerns remain
over the fiscal position of the government of Prime Minister
Thaksin Shinawatra which came into power in 2001.

While the budgetary performance and transparency have
improved, more time will be needed to reduce government debt
ratios to healthier levels, it said. -- AFP