Asean round-up

In Vietnam on 21/10/2012 at 5:00 am

Thailand’s central bank unexpectedly cut interest rates in an effort to boost domestic demand and sustain growth: key rate to 2.75% from 3%. Analysts mutter about govt pressure on the central bank which is supposed to make independent decisions. Some analysts criticised the move, saying that lower borrowing costs might spur a rise in consumer prices, forcing the bank to reverse its decision as early as the first half of next year.

Japan (one of Asean’s biggest trading partners and source of much FDI is looking to stimulate its economy.

Burma’s president re-appointed party chief but FT and others report tensions in the party. They say this guy is the one to watch: the speaker of parliament who now has been chosen as day-to-day leader of the party: another ex-general. Parly has been causing govt some problems regarding foreign investment laws.

Vietnam’s leaders are unhappy with their PM. Makes investment scene more unstable. And Stag Yaw (remember him?) is trying to do biz there.

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