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Thailand’s central bank cuts interest rates

by ChemOrbis Editorial Team - content@chemorbis.com
  • 11/03/2015 (13:06)
According to media reports, Thailand’s central bank unexpectedly cut interest rates today. The bank lowered its benchmark interest rate by 0.25 basis points to 1.75% in order to boost slowing economic growth. The bank had kept its interest rates unchanged since March 2014.

The bank cited the strengthening baht, which has impaired competitiveness in the export market, and fading inflation due to lower oil prices as the main reasons behind their decision.

In 2014, Thailand’s economy grew at the slowest pace in three years to post a growth rate of 0.7%.
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