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Thai Central Bank Says Growth To Slow on Floods, Global Economy

The Bank of Thailand expects economic growth to slow as the global economy weakens and the impact of the nation’s flood crisis increases, according to the minutes of its Oct. 19 meeting.

Members of the Monetary Policy Committee, which voted six-to-one to maintain the policy interest rate at 3.5 percent, are concerned about the impact of the still-evolving flood situation, the minutes show.

Although inflation remained high and warranted close monitoring, upside risks were limited, the central bank said.

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