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

;AFP; ANPAf..r.. 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