BANGKOK (Reuters) -Thailand’s worsening economic outlook as U.S. tariffs intensified global trade tensions triggered a cut in interest rates last month, minutes of the Bank of Thailand’s April 30 monetary policy meeting showed on Wednesday.
At the meeting, the BOT’s monetary policy committee voted 5-2 to cut the one-day repurchase rate by 25 basis points to 1.75%, the lowest level in two years, and lowered its growth and inflation forecasts.
“Most members deemed it appropriate to cut the policy rate at this meeting to be consistent with the worsening economic outlook, address heightened downside risks, and align financial conditions with the evolving economic and inflation outlook,” the minutes said.
The BOT had also cut interest rates at its previous meeting in February. The central bank’s next rate review is on June 25.
(Reporting by Orathai Sriring, Thanadech Staporncharnchai, Chayut Setboonsarng; Editing by John Mair)
Comments