Thailand's central bank slashed its key interest rate unexpectedly on Wednesday, citing a weaker-than-expected outlook, partly due to the Wuhan coronavirus outbreak. The Monetary Policy Committee voted unanimously to cut the policy rate by 25 basis points to 1.00 percent, the Bank of Thailand said in a statement. Economists had expected the bank to leave the rate unchanged for a second policy session in a row.
The key interest rate was last cut in November, by 25 basis points. "In deliberating their policy decision, the Committee assessed that the Thai economy would expand at a much lower rate in 2020 than the previous forecast and much further below its potential due to the coronavirus outbreak, the delayed enactment of the Annual Budget Expenditure Act, and the drought," the bank said. "Headline inflation was projected to be below the lower bound of the inflation target throughout the forecast horizon."
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September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.