Bank of Thailand cuts rates to record low on coronavirus concerns

Thailand's central bank on Wednesday cut its key interest rate to a record low, as concerns mount over the impact of the coronavirus epidemic.Bank of Thailand Monetary Policy Committee members unanimously decided to lower the benchmark rate by 0.25 percentage point to 1 percent, the lowest since the committee was instituted in 2008.The central bank said a more accommodative monetary policy stance is warranted to alleviate the negative impact of the coronavirus, the delayed enactment of the annual budget expenditure act and a prolonged drought.The rate cut is the first this year and follows …READ FULL ARTICLE