Thailand cuts interest rate to lowest level in three years
Thailand's central bank on March 12 cut its interest rate by 0.25 percent to 2 percent, the lowest level since January 2011.
Thailand's central bank on March 12 cut its interest rate by 0.25 percent to 2 percent, the lowest level since January 2011.
This is the second time the Bank of Thailand has reduced the interest rate since last November to stimulate the economy.
According to data released in February, Thailand's economic growth slowed in the fourth quarter of 2013, to just 0.6 percent year-on-year, from 2.7 percent in the previous quarter.
Also the same day, the Thailand Constitutional Court ruled that a bill to borrow 2.2 trillion THB (67.8 billion USD) for infrastructure building was unconstitutional.
According to the court, both the content and legislative process of the bill violated the Constitution.
The bill was approved by the Senate last November, but Democrat Party parliamentarians petitioned the court to rule on its legality in January.
The bill would have allowed the government to borrow a maximum 2.2 trillion THB in seven years from domestic and foreign sources to fund more than 10 large-scale infrastructure projects, including an express railway.-VNA
This is the second time the Bank of Thailand has reduced the interest rate since last November to stimulate the economy.
According to data released in February, Thailand's economic growth slowed in the fourth quarter of 2013, to just 0.6 percent year-on-year, from 2.7 percent in the previous quarter.
Also the same day, the Thailand Constitutional Court ruled that a bill to borrow 2.2 trillion THB (67.8 billion USD) for infrastructure building was unconstitutional.
According to the court, both the content and legislative process of the bill violated the Constitution.
The bill was approved by the Senate last November, but Democrat Party parliamentarians petitioned the court to rule on its legality in January.
The bill would have allowed the government to borrow a maximum 2.2 trillion THB in seven years from domestic and foreign sources to fund more than 10 large-scale infrastructure projects, including an express railway.-VNA
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