The central bank’s monetary policy committee (MPC) on Wednesday cut the repurchase rate by 0.25% percentage points from the previous 3%, Paibul Kittisrikangwan, assistant governor for monetary policy at the Bangkok of Thailand said.
Members of the panel voted 5-2 to cut the key policy rate to 2.75%, effective immediately, said Mr Paibul.
The decision was aimed at boosting the economy in preparation for countering the possible impact of the continuing global financial crisis, he added.
The RP rate cut was unexpected. The money marker had believed the MPC would keep the policy rate unchanged.