Thai financial ministry says hopes for big rate cut on Wed

BANGKOK (REUTERS) - Thailand's finance minister said on Monday that he hoped the central bank's monetary policy committee (MPC) would cut the policy rate more than 25 basis points at its meeting on Wednesday.

Mr Kittirat Na Ranong told reporters that if the committee did not lower the rate or even if it did cut it by 25 basis points, it was considered that "they did not feel a thing".

Most economists expect a 25-basis-point cut in the benchark interest rate to 2.50 per cent following weaker-than-expected gross domestic product data for the first quarter plus government pressure for a rate reduction.