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Thailand slashes rates as protests hit economy [financial crisis continues]
Reuters ^
| 2008-12-04
| Kitiphong Thaichareon
Posted on 12/03/2008 3:00:05 AM PST by rabscuttle385
BANGKOK, Dec 3 (Reuters) - The Bank of Thailand surprised markets by cutting interest rates by a full point on Wednesday, saying the economic damage wrought by political unrest and the global downturn triggered its first easing since mid-2007.
A rapid retreat in inflation in recent months made it easier for the central bank to slash rates by the biggest margin in over eight years to help the economy, hit by anti-government protests that culminated in an eight-day siege of Bangkok's main airports.
"The political problem is having quite a severe impact on the economy," BoT Assistant Governor Duangmanee Vongpradhip told reporters.
(Excerpt) Read more at reuters.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: bailout; bankinglist; financelist; financialcrisis; govt; govtfailure; moneylist; panicof2008; thailand
Iceland...Thailand...oh my.
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2
posted on
12/03/2008 3:00:20 AM PST
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: rabscuttle385
3
posted on
12/03/2008 3:00:42 AM PST
by
bmwcyle
(McCain had no honor when he failed to defend Sarah Palin, Leno was not enough)
To: PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...
*Ping!*
4
posted on
12/03/2008 3:00:44 AM PST
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: bmwcyle
Thailand?It could happen here too.
5
posted on
12/03/2008 3:18:49 AM PST
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: rabscuttle385
It seems unlikley that more easy money is the solution for a crises caused by easy money...
6
posted on
12/03/2008 3:47:53 AM PST
by
DB
To: rabscuttle385
Gee, look what we conservatives could do in just 8 days we could.
Cut taxes, cut spending, reduce the size of the government, stop the bailout.
BTW-The reason we are borrowing trillions of dollars is the country is broke! They are now pushing us to bankrupcy.
Will conservatives get off their asses at that point?
I think not.
7
posted on
12/03/2008 3:50:34 AM PST
by
stockpirate
(United Socialist States of America- USSA. Prepare for the Final Solution.)
To: rabscuttle385
sure a coincidence that all of this imploded just as john mccain ascended in the polls
and then kerput...
8
posted on
12/03/2008 7:04:43 AM PST
by
ken21
(people die and you never hear from them again.)
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