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Unexpected key policy rate cut

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The central bank’s monetary policy committee (MPC) on Wednesday cut the repurchase rate by 0.25% percentage points from the previous 3%, Paibul Kittisrikangwan, assistant governor for monetary policy at the Bangkok of Thailand said. 

Members of the panel voted 5-2 to cut the key policy rate to 2.75%, effective immediately, said Mr Paibul.

The decision was aimed at boosting the economy in preparation for countering the possible impact of the continuing global financial crisis, he added.

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