Thailand Unexpectedly Cuts Rate as Protests Crimp Outlook
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Thailand unexpectedly cut its key interest rate for a second time this year, as escalating anti-government protests threaten investor confidence and local demand, hurting the nation’s growth outlook. The baht fell.
The Bank of Thailand cut its one-day bond repurchase rate by a quarter of a percentage point to 2.25 percent, with monetary policy committee members voting six-to-one in favor of the decision, it said in Bangkok today. All 19 economists in a Bloomberg survey predicted the rate would be held.