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Thailand Reduces Key Rate as Political Unrest Hurts Economy

Thailand cut its key interest rate for the first time this year to bolster the economy as prolonged political unrest curbed local demand and hurt tourism.

The Bank of Thailand cut its one-day bond repurchase rate by a quarter of a percentage point to 2 percent, with monetary policy committee members voting four-to-three in favor, it said in Bangkok today. Sixteen of 26 economists in a Bloomberg News survey predicted the decision, with the remainder expecting the rate to be held.