Thailand cuts rates as coronavirus threatens growth prospects

Bank of Thailand
Photo: George Johnson

The Bank of Thailand cut interest rates to 1% today (February 5), amid concerns the coronavirus outbreak could seriously hamper growth.

Titanun Mallikamas, secretary of the monetary policy committee, said the Thai economy would likely expand at “a much lower rate in 2020” than the previous forecast and “much further below its potential due to the coronavirus outbreak”.

A delayed enactment of the annual budget and a drought were also hampering growth prospects, Mallikamas added.

The central

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