Bangkok Bank cuts lending rates

 The bank did not explain why it took the action.
 The Thai economy was severely hit by the floods in the fourth quarter of this year, which according to the National Economic and Social Development Board brought down the 2011 growth rate to only 0.1 per cent.
 Following the cut, the minimum loan rate will be 7.25 per cent.
 The bank also launches a new four-month deposit account for non-residents, offering the 2.625 per cent per annum rate for minimum deposit of Bt200,000. This offer stands until March 21.