Thailand reduces borrowing costs to stimulate recovery

The Bank of Thailand lowered borrowing rates for the first time since 2009. Thailand's national bank has cut its overnight rate by 0.25 percentage points to 3.25%. Central bank expects Thailand's economy will grow at 1.8% rate next year or 0.8% less than was predicted earlier. Nalin Chutchotitham, Kasikornbank Pcl's economist forecasts further cut of 0.5% percentage points in forthcoming two months.