Fiscal Policy Office cuts policy rate to 1.25% to boost declining economy

The Fiscal Policy Office of the Bank of Thailand voted 5:2 on Tuesday to slash the benchmark policy rate by 25 points to 1.25% with immediate effect in a bid to boost the slowing Thai economy.

Fiscal Policy Office secretary, Mr. Tittanan Mallikamat, said today (Wednesday) that the fiscal policy committee decided on the cut after it realized the country’s economic growth rate will fall short of projections and national capacity, due to an export slump partly caused by the ongoing trade war between China and the United States.

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