World Economy

Thailand Cuts Interest Rate

Thailand Cuts Interest RateThailand Cuts Interest Rate

Thailand unexpectedly cut its key interest rate for the first time in a year, joining a global wave of monetary easing after the economy grew at its slowest pace in three years. The Bank of Thailand cut its one-day bond repurchase rate to 1.75 percent, with monetary policy committee members voting four-to-three in favor, it said in Bangkok on Wednesday. Six economists surveyed by Bloomberg News predicted the decision, while 16 forecast the rate would be held for an eighth meeting. More than 20 central banks around the world have added monetary stimulus this year as inflation fades on falling oil prices.