BloombergThe Bank of Thailand cut its benchmark interest rate to a record low as a coronavirus outbreak in China, a stalled government budget and bad drought imperil economic growth. The central bank yesterday lowered the policy rate by 25 basis points to 1 percent in a unanimous decision, the third cut in its past five meetings. The virus has delivered a severe blow to Thailand’s tourism industry, undermining the outlook for the economy. “The outbreak may be temporary, but it’s a huge shock to the economy,” said Naris Sathapholdeja, chief economist at TMB Bank PCL in Bangkok. The bank is likely to revise the economic growth forecast at its next meeting, Titanun said.

Source: Taipei Times February 05, 2020 15:56 UTC