Thai central bank cuts policy rate by 25 basis points to 0.50%

14 Sept 01:46 Key points summarised by AI

The Bank of Thailand's Monetary Policy Committee (MPC) reduced the benchmark interest rate by 25 basis points to a new record low of 0.50%, effective immediately.
This fifth rate cut since August 2019 was primarily driven by a projected severe contraction of the Thai economy, exceeding previous forecasts, due to global economic slowdowns and domestic COVID-19 lockdown measures, alongside anticipated lower inflation.
The MPC aims for the policy rate cut to enhance fiscal and financial measures supporting businesses, while also expressing concerns about the strengthening Baht currency potentially impacting Thailand's economic recovery.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.