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Thailand Cuts Key Interest Rate to 3.25%

The Bank of Thailand cut its benchmark 1-day repurchase (repo) rate by 25 basis points to 3.25% on Wednesday, confounding the majority of economists who had expected no change.

The cut, the fifth this year, was designed to stimulate a weak economic recovery which began in May, assistant central bank governor Suchada Kirakul told reporters.

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