Thailand's Bangkok Bank has cut its lending rates by 22.5-35 basis points, effective on Thursday, following the central bank's policy easing, and other banks are expected to follow suit.

The rate reductions will help lower customers' costs and support the government's efforts to combat the impact of the coronavirus outbreak, the bank said in a statement.

On Wednesday, the central bank cut its policy rate by 25 basis points to a record low of 0.50%, as the economy was expected to contract more than forecast.

For commercial bank rates, click here https://www.bot.or.th/English/Statistics/FinancialMarkets/InterestRate/_layouts/application/interest_rate/IN_Rate.aspx.

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Himani Sarkar)