Bank of Thailand cut its benchmark interest rate by 0.25 percentage points to 2%, its lowest level in three years.The move comes amid continuing political turmoil in the country.It is the second rate cut since November, as the bank tries to encourage spending after a slowdown in economic growth.
"Downside risks to growth have risen" in the wake of the prolonged political situation, the central bank said in a statement.Thailand's economic growth has slowed recently, to just 0.6% in the last quarter of 2013 from 2.7% in the previous quarter.
"Downside risks to growth have risen" in the wake of the prolonged political situation, the central bank said in a statement.Thailand's economic growth has slowed recently, to just 0.6% in the last quarter of 2013 from 2.7% in the previous quarter.