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BoT cuts interest rate again, to 3pc

BoT cuts interest rate again, to 3pc

Thailand’s central bank last week cut its benchmark interest rate for the second time in three months in a bid to stimulate the economy after last year’s severe floods.

Thursday 2 February 2012, 10:31AM


The Bank of Thailand (BoT) lowered the official cost of borrowing by a quarter of a point to three per cent.


“Easing the interest rate will support economic rehabilitation,” the bank’s Assistant Governor Paiboon Kittisrikangwan told reporters.


He said the meeting assessed the impact of the months-long floods to be greater than previously thought, while the global economic outlook had also weakened.


–MCOT

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