India, April 30 -- The Bank of Thailand reduced its benchmark interest rate by a quarter-point, as expected, to withstand the downside risks to the growth outlook amid the heightened uncertainty posed by trade policies of major economies.
The Monetary Policy Committee voted 5-2 to cut the policy rate to 1.75 percent from 2.00 percent. Two members voted to maintain the interest rate at 2.00 percent.
Previously, the bank had lowered the policy rate by 25 basis points in February. Policymakers observed that the unpredictable nature of future global trade policies continued to pose significant challenges in assessing the economic and inflation outlook going forward.
Due to global trade policies and lower foreign tourist arrivals, the Thai ec...