BOT unexpectedly cuts rate after growth forecast reduction

Bangkok

THAILAND'S central bank unexpectedly cut its benchmark interest rate for a second straight meeting, roiling markets already digesting a reduction in the 2015 economic growth forecast.

The Bank of Thailand (BOT) lowered its one-day bond repurchase rate by a quarter of a percentage point to 1.5 per cent on Wednesday. The baht slid as much as 0.6 per cent, and the benchmark SET index fell as much as 1.2 per cent, heading to its lowest close since March 31.