BoT says cut rates to spur economy

The Bank of Thailand said Wednesday 17 January it cut its key interest rate for the first time in more than three years to spur the economy after currency controls.

The BoT lowered its one-day bond repurchase rate to 4.75 percent from 4.9 percent, assistant governor Suchada Kirakul told reporters at a press briefing.

The central bank adopted the rate at its new benchmark this month, replacing the 14-day bond repurchase rate it has used since May 2000.

``Inflationary pressures have moderated, while

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