February 5, 2020 / 7:22 AM / 24 days ago

Thai central bank unexpectedly cuts rate 25 bps to record low 1.0%

BANGKOK, Feb 5 (Reuters) - Thailand’s central bank unexpectedly cut its benchmark interest rate for a third time in six months on Wednesday, taking it to a fresh record low as a new virus from China puts further pressure on the flagging economy.

The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to cut the one-day repurchase rate by 25 basis point to a record low of 1.0%, the lowest in Asia outside of Japan.

In a Reuters poll, 14 of 23 economists had predicted no policy change on Wednesday, while the others forecast a 25 basis-point cut.

The BOT had cut the rate by a quarter-point in August and November but left it unchanged in December. (Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by Kim Coghill Editing by xx)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below