Bank of Thailand Unexpectedly Cuts Key Interest Rate to 1.75%

Surprises are becoming more common than not, when it comes to central banks. Thailand today became the latest to execute an unexpected interest-rate cut.

The Southeast Asian country -- a onetime export powerhouse that’s seen its manufacturing mojo dim somewhat in recent years amid historic flooding and political infighting -- lowered its main rate to 1.75 percent. Only six of 22 economists surveyed by Bloomberg News saw the move, with the rest predicting the rate would be held for an eighth meeting.