Bank of Thailand rate cuts low for the first time in 9 years and 5 months US-China friction effect 6 November 21:23
The impact of trade friction between the United States and China is spreading to Southeast Asia. The central bank of Thailand lowered the policy interest rate to the lowest level in nine years and five months to support the economy on the 6th because domestic exports and personal consumption were affected by the decline in exports.
The Thai central bank held a meeting to decide monetary policy on the 6th, and decided to lower the policy interest rate by 0.25% from the current 1.5% to 1.25%.
Thailand's central bank has cut the policy rate for the first time in three months, and the policy rate of 1.25% is the lowest level in nine years and five months since June 2010 when the effects of the global financial crisis remained. .
Reasons for the reduction include the fact that exports have declined more than expected due to the impact of trade friction between the United States and China, and that personal consumption has slowed due to a decrease in employment in the export industry. I want to support them.
At a press conference, executives of the Thai Central Bank said that “the Thai economy continues to face a downside risk due to the effects of trade friction between the United States and China” and expressed a sense of caution toward the future.
The slowdown in the economy is spreading throughout Southeast Asia due to the influence of the US-China trade friction, and central banks are successively lowering policy interest rates in Indonesia and the Philippines.