ISTANBUL, Oct 16 (Bernama-Anadolu) -- The Bank of Thailand lowered its policy interest rate by 25 basis points to 2.25 per cent on Wednesday, the first rate cut since May 2020, reported Anadolu Agency.
After keeping the rate at 0.5 per cent for a long period, the bank increased the rate to 2.5 per cent gradually from August 2022 to September 2023, then kept the rate constant for the last five monetary policy meetings.
The bank said the country's economy is expected to expand as anticipated.
"Meanwhile, headline Inflation is projected to gradually return towards the target range by the end of 2024," it said.
"Moreover, the lower policy rate would not impede debt deleveraging given the expected slowdown in loan growth and would remain neutral and consistent with economic potential," the bank added.
--BERNAMA-ANADOLU
