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Thailand Cuts Rate First Time This Year as Growth Slows: Economy

Thailand cut its benchmark interest rate for the first time this year as slowing economic growth bolstered government calls for easing. The baht fell.

The Bank of Thailand lowered its one-day bond repurchase rate by a quarter of a percentage point to 2.5 percent, it said in Bangkok today. The first reduction since October was a unanimous decision, it said. The outcome was predicted by 15 of 24 economists surveyed by Bloomberg News, with one expecting a half-point reduction and eight forecasting no change.