Thailand blames floods and ‘likely’ eurozone recession for rate cut

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The Bank of Thailand on January 25 cut the benchmark interest rate by 25 basis points, from 3.25% to 3%, effectively immediately.

Paiboon Kittisrikangwan, secretary of the Monetary Policy Committee (MPC), said with the eurozone "likely" to enter a recession and a greater than expected impact from the large-scale flooding in Thailand being felt, the rate cut was necessary.

Despite noting an improvement in US economic conditions and a decline in inflationary pressures in the country, these factors

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