As the Royal Thai Army plotted its coup against the democratically-elected government in May 2014, Thailand was the second largest economy in ASEAN, and stood on the brink of signing a landmark Free Trade Agreement with the EU.
The Bank of Thailand lowered its benchmark interest rate for the first time in nine months to stimulate Thailand’s 2013 economy. BoT’s Monetary Policy Committee MPC voted 5 to 2 to cut the policy interest rate from 3 per cent to 2.75 per cent per annum, effective immediately.
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