Baht posts weekly gain after cbank lifts interest rate
BANGKOK: Thailand's baht completed its first five-day advance in four weeks and interest-rate swaps had the biggest weekly gain since 2009 after the central bank unexpectedly raised borrowing costs, Blomberg reported .
Government notes dropped this week, sending the benchmark five-year yield to a sixmonth high, after the Bank of Thailand boosted its one-day bond repurchase rate by a quarter of a percentage point to 2 percent on Dec. 1, a move predicted by only five of 17 economists in a Bloomberg survey. The rest expected no change. "The rate hike indicates policy makers' confidence in the economic strength," said Minori Uchida, a Tokyo-based senior analyst at Bank of TokyoMitsubishi UFJ Ltd. -PB News