March 20, 2020 / 2:47 PM / 12 days ago

Thai cenbank cuts key rate by 25 bps in special meeting

BANGKOK, March 20 (Reuters) - Thailand’s central bank cut its key interest rate by 25 basis points to a record low of 0.75% in a special meeting on Friday, it said in a statement.

The Committee viewed that the COVID-19 outbreak in the period ahead would be more severe than previously expected and the situation would take some time before returning to normal. This would severely affect the Thai economy, the statement said.

The outbreak resulted in concerns among global financial markets, affecting liquidity and the functioning of Thai financial markets despite overall stability of the financial system, it said.

For the full text, click here (Reporting by Orathai Sriring; Editing by xxxx)

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