BANGKOK: The Bank of Thailand cut its benchmark interest rate to a fresh record low in an emergency meeting as the coronavirus outbreak damages the country’s tourism industry and raises the risk of recession.
The central bank lowered the policy rate by 25 basis points to 0.75%, effective March 23, it said in a statement on its website late Friday. It was a unanimous decision by policy makers. That’s the second cut in as many months, after the bank moved by 25 basis points in February.
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