Central bank cuts rate to counter burly baht

The Bank of Thailand has slashed interest rates a quarter point to 1.5%, the first reduction since 2015.

The surprise announcement comes as the strength of the baht is creating pain in an export sector already beleaguered by the Sino-American trade war. Exports are slowing along with other key economic indicators such as GDP and tourism.

Private consumption is forecast to fall with employment also taking a hit.

Related stories:

Growth of Thai economy slows to 5-year low

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