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Unexpected rate cut from Thailand’s central bank

by ChemOrbis Editorial Team -
  • 29/04/2015 (14:41)
According to media reports, Thailand’s central bank unexpectedly cut its interest rates for a second straight month on April 29. The bank lowered its benchmark interest rate by 25 basis points to 1.50% after the finance ministry announced that they lowered their growth estimates for this year. Economists had expected the central bank to hold interest rate steady in April. The bank had cut its interest rates by 25 basis points in March.

Thailand’s government lowered its 2015 growth forecast to 3.7% from 3.9%. The country’s gross domestic product (GDP) grew 0.7% in 2014, the slowest rate of growth in three years.
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