Thai central bank cuts key interest rate first time in two years

BANGKOK, Nov 30 – The Bank of Thailand on Wednesday cut policy interest rate by 0.25 per cent for the first time in two years to support economic restoration and investment after an impact of flooding on the Thai economy has widened and become more severe.

At Wednesday’s meeting, the BoT’s Monetary Policy Committee (MPC) voted 5 to 2 to reduce the policy rate by 0.25 percent, from 3.50 percent to 3.25 percent per annum, with 2 votes in favour of a 0.50 percent reduction, said Mr Paiboon Kittisrikangwan, Secretary of the Monetary Policy Committee (MPC).

Read more: MCOT