Bank of Thailand Cuts Interest Rates, Baht Weakens

  May 29th, 2013 at 10:20, Vladimir Vyun

Thai baht banknotesThe Thai baht weakened today after the central bank eased its monetary policy on concerns about slowing economic growth.

The Bank of Thailand cut its main interest rate by 0.25 percentage point to 2.5 percent. Such decision was expected by market analysts. The bank voiced worries about economic slowdown:

The Thai economy in the first quarter of this year grew less than expected from tepid domestic demand, which could weigh on overall economic momentum particularly if there was delay in government’s infrastructure investment expected to start later this year.

USD/THB went up from 30.0850 to 30.2350 as of 10:18 GMT today.

If you have any questions, comments or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

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