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Thailand cuts interest rates to record low as coronavirus spreads

Move comes as government lowers growth forecast, fearing disease impact

BANGKOK -- Thailand's central bank on Wednesday cut its policy rate to a record low to cushion the blow of the coronavirus epidemic.

The Bank of Thailand's monetary policy committee lowered its one-day repurchase rate by 0.25 of a percentage point to 1%. The latest cut brought the rate to a historical low. In November 2019, the bank had cut the rate to 1.25%, equaling the level it maintained from April 2009 to July 2010 to stave off the global financial crisis.

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