Prasarn hints at cut next year | Bangkok Post: business

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Prasarn hints at cut next year

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Lower domestic interest rates could help cushion the economy from the heavier impacts of the global downturn next year, as local inflationary pressure is likely to decline, says Prasarn Trairatvorakul, the Bank of Thailand governor. 

The Asian Development Bank and the World Bank both cut their growth outlook for the world and Asian economies next year, so Dr Prasarn said the Monetary Policy Committee (MPC) could be looking for the right time to cut interest rates to bolster the economy.

"I think inflationary pressure is likely to decline next year, so monetary policy could be more flexible in terms of timing and using tools to cushion the economy," he said in a speech to the central bank's Songkhla office.

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