Thailand cuts key rate for third time as economic crisis worsens
The Bank of Thailand cut its benchmark interest rate for the third time this year to a record low as the economy is expected to shrink further amid the coronavirus pandemic.
The central bank lowered the policy rate by 25 basis points to 0.5 per cent on Wednesday (May 20), by a 4-3 vote, the third cut in its last four meetings. Of 24 analysts in a Bloomberg survey, 21 correctly predicted the decision, with the rest expecting no
change.
