As Channel NewsAsia reports, Thailand's central bank cut its benchmark interest rate on Wednesday (Apr 29) in a surprise move highlighting the military government's struggle to revive the faltering economy.
The Bank of Thailand said in a statement policy board members voted by 5-2 to cut the rate to 1.50 per cent from 1.75 per cent, its lowest since July 2010.
The decision came just hours after the finance ministry downgraded its growth forecast for 2015 from 3.9 to 3.7 per cent.
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The Bank of Thailand said in a statement policy board members voted by 5-2 to cut the rate to 1.50 per cent from 1.75 per cent, its lowest since July 2010.
The decision came just hours after the finance ministry downgraded its growth forecast for 2015 from 3.9 to 3.7 per cent.
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