Thailand cuts interest rates in surprise move

Bangkok

SURPRISES are becoming more common than not, when it comes to central banks.

Thailand - a one-time export powerhouse that's seen its manufacturing mojo dim somewhat in recent years amid historic flooding and political infighting - lowered its main rate to 1.75 per cent on Wednesday. Only six of 22 economists surveyed by Bloomberg News saw the move, with the rest predicting the rate would be held for an eighth meeting.