BANGKOK, Aug 7 (TNA) – The Bank of Thailand (BOT) cuts
its policy interest rate for the first time in more than four years, down from
1.75 to 1.5 percent.
Members of the central bank’s Monetary Policy Committee (MPC) voted
5 to 2 to lower the interest rate at its meeting on Wednesday.
MPC Secretary Titanun Mallikamas announced that the
Committee assessed the Thai economy and decided to slice the key interest rate
by 0.25 percent with immediate effect.
With a view that more accommodative monetary policy would
contribute to the continuation of economic growth, most MPC members voted to
cut the policy rate, said Mr. Titanun.
Two members who voted against the move, however, argued that
the rate cut might not lend additional support to economic growth, he said.
The MPC members expected the Thai economy to expand at a
lower rate than previously assessed as merchandise exports had contracted due
to the global economic slowdown, Mr.Titanun noted.
Furthermore, the Committee would monitor policy
implementation of the new government and public expenditure that could propel
economic growth, he added. (TNA)
