BANGKOK, May 20 (TNA) – The Bank of Thailand (BOT) cuts
the policy interest rate to the record low 0.50
percent to alleviate the impacts of COVID-19.
Titanun Mallikamas, Secretary of the central bank’s Monetary Policy
Committee (MPC), announced that the Committee members voted 4
to 3 to cut the policy rate by 0.25 percentage point
effective immediately.
The MPC assessed that the Thai economy would contract this
year more than the previous assessment due to the global pandemic, he said.
The majority of the members viewed that more accommodative
monetary policy would alleviate the negative impacts. Three members voted to maintain the policy
rate and expedite existing measures, he said.
Titanun said the MPC would monitor risks arising from the
COVID-19 outbreak in deliberating monetary
policy and stand ready to use additional appropriate monetary policy tools.
(TNA)
