Big Thai Banks Start Cutting Borrowing Costs After BOT Move (1)

Thailand’s top banks have started cutting lending rates, following the central bank’s move on Wednesday to slash the benchmark policy rate to its lowest in more than two years to support an economy hit by US tariffs.

Bangkok Bank Pcl, the nation’s largest lender by assets, led the move with a 25-basis-point cut to loan rates, matching the central bank’s reduction. State-controlled Krung Thai Bank Pcl, Kasikornbank Pcl, Siam Commercial Bank Pcl and Government Savings Bank also announced similar reductions in borrowing costs on Thursday.

The cut “aims to help all customer groups quickly adapt to significant ...