It is now over two years since the devaluation of the Thai baht precipitated a currency crisis acros...
It is now over two years since the devaluation of the Thai baht precipitated a currency crisis across south-east Asia. As we all know, the following few months were punctuated by sharp rises in interest rates and tumbling equity markets, as companies throughout the region struggled with the escalating costs of huge overseas borrowing. However, times have changed and the worst appears to be over, as highlighted by the 27.1% rise in the FT/S&P Pacific (ex Japan) Index in sterling terms since the start of the year. So what has changed? As interest rates began to tumble elsewhere in the world...
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