FTI urges rate cut by 1% or more

By The Nation

Federation of Thai Industries Chairman Santi Vilassakdanont urged the Monetary Policy Committee (MPC) to reduce the policy rate by 1 percentage point or more, to help revive the severely-battered economy.

He said that next year, credit squeeze could worsen due to the global crisis.

The MPC will meet on Wednesday and is widely expected to cut the policy rate, as inflationary pressure has subsided due to the sharp fall in oil prices.

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FTI urges rate cut by 1% or more

Federation of Thai Industries Chairman Santi Vilassakdanont urged the Monetary Policy Committee (MPC) to reduce the policy rate by 1 percentage point or more, to help revive the severely-battered economy.

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