Thailand slashes rates, cites demand and exports

The Bank of Thailand surprised markets on Wednesday by slashing rates for the second month in a row on further signs of a slowdown.

Wednesday's 75 basis-point cut, which leaves the benchmark policy interest rate at a four-year low of 2%, follows a 100 basis-point cut in December. Analysts had largely expected the central bank to lop a half point off the key rate, though some had forecast a bigger move. The December move was the biggest cut since the policy rate was introduced in 2000.


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