Central Bank of Thailand Policy rate cuts Economic slowdown August 7 21:38
The central bank of Thailand has lowered its policy interest rate for the first time in about four years and three months to support the economy, assuming that the domestic economy has been slowing down due to the decline in exports due to the effects of trade friction between the United States and China. Decided.
The Thai central bank held a meeting to decide monetary policy on the 7th, and decided to lower the policy interest rate by 0.25% from the current 1.75% to 1.5%.
It is the first time in four years and three months since the end of April 2015 that the policy rate in Thailand will be reduced.
Thailand's economy has been performing well for the past few years, but the GDP of GDP from January to March has been the first for about four years due to the effects of trade friction between the US and China and the slowdown of the global economy. There is a slowdown in the economy, such as low levels.
The reason for the reduction is that exports are decreasing more than expected and that the growth of the tourism industry is slowing down, suggesting that Japan will support the domestic economy through rate cuts.
At a press conference, executives of the Central Bank of Thailand said, “We will keep an eye on the risks to the economy of growing trade tensions,” and were wary of the growing trade friction between the United States and China.
Thailand, the center of the manufacturing industry in Southeast Asia, has a large number of Japanese companies such as automobiles and electronics manufacturers, and the business sentiment has deteriorated among these companies due to trade friction in the US and the soaring currency baht. It is.