Economic news
Thai central bank unexpectedly cuts key rate by 25 bps
2024.10.16 03:19
BANGKOK (Reuters) – Thailand’s central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government as needed to revive a sluggish economy with inflation below target.
The Bank of Thailand (BOT)’s monetary policy committee voted 5 to 2 to reduce the one-day repurchase rate by 25 basis points to 2.25%, after the rate had been a decade-high of 2.50% since September 2023.
Only four of 28 economists in a Reuters poll had predicted a quarter-point cut this week. Twenty-four economists had expected no policy change.
The previous change in policy was a 25 basis point rate rise in September last year.
