Thai prime minister tells lenders to cut interest rates

Move comes amid continued tensions between government and central bank

Bank of Thailand
The Bank of Thailand
George Johnson

Thailand’s prime minister Srettha Thavisin has successfully pressed the country’s largest banks to lower lending rates, after the central bank repeatedly resisted his calls to loosen policy.

Major lenders in Thailand agreed to cut the minimum retail rate (MRR) by 25 basis points for six months, the Thai Bankers’ Association (TBA) announced on April 25. Three days later, Srettha stepped down as finance minister, with the king approving the appointment of an experienced business executive to the

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