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Thailand cuts interest rate amid political strife

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November 27, 2013 03:49 AM EST | AP


BANGKOK (AP) — Thailand's central bank has lowered the cost of credit as escalating protests to topple the government add to pressures on the economy.

The Bank of Thailand said Wednesday it lowered its policy interest rate by a quarter percentage point to 2.25 percent.

It says in a statement that Thailand's third quarter economic growth was weaker than expected.

The bank says the "ongoing political situation" could compound existing weaknesses that include fragile business confidence and delays in government investment plans.

It also says a recovery in exports has not gained traction.

Flag-waving protesters vowing to topple Thai Prime Minister Yingluck Shinawatra took to the streets of Bangkok for a fourth straight day Wednesday.