BANGKOK – The Bank of Thailand cut its main interest rate by a bigger-than-expected 75 basis points to 2.00 percent on Wednesday, the second hefty cut in two months to support the economy and ward off the risk of recession.
Seven out of 11 economists polled by Reuters had expected a 50 basis point cut in the one-day repurchase rate BOT84, and the remaining four had predicted cuts of 75 or 100 basis points. The central bank cut the rate by a full point in December.
Both inflation and the economy are cooling rapidly, with some government officials warning the Southeast Asian country may not see any economic growth at all this year.
