Thailand unexpectedly cuts rates as growth poised to slow
Domestic manufacturing sector faces “intense competition” from abroad, BoT says
Defying expectations, Thailand’s central bank today (February 26) cut its policy rate, flagging slower-than-expected growth and the fierce international competition faced by the manufacturing sector.
The Bank of Thailand (BoT) reduced its policy rate by 25 basis points to 2%. Six of the seven members of the bank’s monetary policy committee (MPC) voted for the cut. The remaining member had wanted to hold, citing the need to preserve monetary policy space amid heightened uncertainties.
This was the
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