Thai central bank cuts key rate by 25 bps, as expected
The Bank of Thailand's monetary policy committee unanimously voted to reduce the one-day repurchase rate by 25 basis points to 1.50 per cent, the lowest in more than two years.
The BOT had held the key rate at its June meeting following back-to-back cuts at reviews in February and April. It had also cut rates in October last year.
Twenty-three of 28 economists in a Reuters poll had predicted a quarter-point reduction this week. The other five had expected no rate change.
Among those who provided a longer-term outlook on rates in the poll, 19 of 26 saw the policy rate at 1.25 per cent by the end of 2025, seven said 1.50 per cent and one forecast 1.00 per cent.
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