Bangkok, The BoT summarized issues from the BOT policy briefing, revealing the concept of national bank policy, emphasizing that at present Thailand’s policy interest rates are at a very low level compared to many countries in the world.

Bank of Thailand (BoT) Summary of issues from the BOT policy briefing, revealing the concept of national bank policy, stating that at present the policy interest rate in Thailand is at a very low level compared to many countries in the world, with the policy interest rate being appropriate for the economy. It must not be too high to the point of affecting economic growth. and not too low to the point of creating fragility in the financial system. Thailand’s policy interest rate of 2.5% is very low compared to many countries in the world. It is still appropriate in the current economic and financial context.

In the next period, if the economic and financial outlook changes from what was previously envisaged, the MPC is ready to adjust the policy interest rate to suit the co
ntext (flexible). Most recently, the BoT issued Responsible Lending criteria, forcing banks to restructure debt for both debtors. Before and after becoming NPL at least 1 time (effective 1 Jan. 2024) and helping debtors with chronic debt to close their debts faster. With a lower interest rate of no more than 15% per year (effective 1 April 2024)

The BoT places importance on supervision. Commercial banks (commercial banks) both in terms of stability Providing fair service to customers Including promoting competition in the banking system to be better and more equal. In order to develop the quality and efficiency of financial services to better meet the needs of the people in the long run. With details as per the link. https://www.bot.or.th/th/news-and-media/news/news-20240115.html

Source: Thai News Agency