Bank of Thailand Says Ready to Take Appropriate Steps Over Virus

Bank of Thailand cut down the policy rate to diminish the hazard of the novel coronavirus outbreak on the economy, Assistant Governor Titanun Mallikamas said in a statement.

Titanun Mallikamas, Assistant Governor of Monetary Policy Committees, the Bank of Thailand, said in regard to the announcement of an emergency rate cut of 0.50% by the Federal Reserve of America, in which reflected an interest rate to stay at 1.00 – 1.25% despite to ease the effect of Covid-19 outbreak.

BOT representative stated that each country would run a measure upon its appropriation, however, BOT has already cut the policy rate on February 5, 2020, to help mitigate the impact of all negative factors, together with the liquidity policy to stimulate those affected businesses. BOT will keep monitoring the further situation.