The Bank of Thailand unexpectedly lowered its benchmark interest rate in a bid to combat a weak economic outlook in an environment of tepid inflation.

The central bank's monetary policy committee on Wednesday cut its policy rate to 1.50% from 1.75% effective immediately, according to its website. Five members on the panel voted for the cut, while two wanted no change. At their last meeting on June 26, all seven members had unanimously voted to keep rates unchanged.  continued at https://www.marketwatch.com/story/bank-of-thailand-makes-surprise-rate-cut-2019-08-07?mod=mw_latestnews

Unmoved Dollar/Baht though virtually unchanged

Why is this a surprise? too late and not enough. 

3 minutes ago, Chivas said:

Unmoved Dollar/Baht though virtually unchanged

be patient, it will take (at least) 24 hours to see the effect

finally their start to see trouble coming, Toyota, Honda complaining and tourists not coming.... maybe .25% it's not enough, let's wait and see but everybody is looking for a baht/USD around 32 ish

topic continues here:

 

Thai central bank surprisingly cuts key rate, worried by baht strength

By Orathai Sriring and Kitiphong Thaichareon

 

FILE PHOTO: Thailand's central bank logo is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/JorgeSilva

 

BANGKOK (Reuters) - Thailand's central bank on Wednesday unexpectedly cut its benchmark rate, expressing worry about strength of the baht and aiming to help support faltering growth.

 

Full story: https://forum.thaivisa.com/topic/1116465-thai-central-bank-surprisingly-cuts-key-rate-worried-by-baht-strength/

 

 

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