Thailand Cuts Key Interest Rate

Thailand cut its key interest rate for the first time in 2those years to spur a slowing economy and said it is considering further cuts, reversing a policy of keeping rates high to bolster the baht.

The Bank of Thailand’s Monetary Policy Committee reduced its benchmark 14-day repurchase rate to 2.25% from 2.5%. The bank last acted June 8, when it raised the rate 1 percentage point. That drew criticism from the International Monetary Fund and investors. The last rate cut was in June 1999.

Bloomberg News