Bank of Thailand cuts key interest rate



The Bank of Thailand on Wednesday cut its key interest rate for the second time this year in hopes of softening a potential economic slowdown.
The central bank's Monetary Policy Committee agreed to cut the rate by a quarter point, bringing it down to 4.50 per cent, BOT assistant governor Suchada Kirakul said.
The committee had also reduced the rate by a quarter-point during its January meeting, bringing it off an eight-year high of 5.0 per cent. That rate had been in place since July 2006.
The latest cut was in line with market expectations that the bank would act to help spur the economy.

Agence France Presse