BoT says closely monitoring situation after Fed rate cutThe Bank of Thailand is closely monitoring the situation following an emergency interest rate cut by the Federal Reserve. (Bangkok Post photo)The Bank of Thailand (BoT) said on Wednesday it was closely monitoring the situation and will act as appropriate following an emergency interest rate cut by the Federal Reserve. The BoT cut the key rate by 25 basis points to a record low of 1% last month, the third reduction in six months to support flagging economic growth. The central bank has said growth this year will be much lower than its current forecast of 2.8%. The Fed led the charge in the global response to the growing economic risk posed by the coronavirus, announcing an emergency interest rate cut on Tuesday to boost confidence.

Source: Bangkok Post March 04, 2020 04:41 UTC