Popular Post snoop1130 Posted June 8, 2022 Popular Post Share Posted June 8, 2022 BANGKOK, June 8 (TNA) – The Bank of Thailand’s the Monetary Policy Committee (MPC) on Wednesday voted 4 to 3 to maintain the policy rate at 0.50 percent at its meeting on Wednesday, according to Piti Disyatat, MPC Secretary. Three members voted to raise the policy rate by 0.25 percentage point. The Committee assesses that the Thai economy will continue to recover and could expand faster than previously expected owing to stronger domestic demand and the pickup in foreign tourists. Full Story: https://tna.mcot.net/english-news-956463 -- © Copyright Thai News Agency 2022-06-08 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Easiest way to own or rent a car in Thailand - click here to find out more! 3 Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 8, 2022 Share Posted June 8, 2022 They need to raise interest rates to assist the economy... 2 Link to comment Share on other sites More sharing options...
morrobay Posted June 8, 2022 Share Posted June 8, 2022 59 minutes ago, ThailandRyan said: They need to raise interest rates to assist the economy... Then all the household debt increases Link to comment Share on other sites More sharing options...
kickstart Posted June 8, 2022 Share Posted June 8, 2022 At least the 800k I keep in the bank for retirement extension ,will be worth a bit more ,if they put up interest rates ,with inflation at 7% plus? it is losing value. But how it would help the economy,an interest rise would make borrowing more expensive ,so holding back investment and growth,plus the above. Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 8, 2022 Share Posted June 8, 2022 2 hours ago, morrobay said: Then all the household debt increases True, but then people need to learn to live within there means and have no outstanding debts except maybe a mortgage and car payment which are fixed rates to begin with. 1 Link to comment Share on other sites More sharing options...
jacko45k Posted June 9, 2022 Share Posted June 9, 2022 (edited) 13 hours ago, ThailandRyan said: They need to raise interest rates to assist the economy... Doesn't that usually slow it down due to higher borrowing costs and reduced investment? Edited June 9, 2022 by jacko45k Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 9, 2022 Share Posted June 9, 2022 2 minutes ago, jacko45k said: Doesn't that usually slow it down die to higher borrowing costs and reduced investment? True as prices and demand would slow down, but the inverse would be that the interest rates on savings accounts and other monetary vehicles would increase, or could if the banks adjusted for it instead of browbeating the investors. By investing and giving higher interest rates to customers it encourages more people to save as the savings rates offered by banks and credit unions will typically increase, too. These factors mean less money is circulating in the economy, which will hopefully reduce the level of inflation. Not sure this would pertain to the majority of the Thai folks who live on the bubble, and it would and could hurt there pockets. Fine edged sword... Link to comment Share on other sites More sharing options...
worgeordie Posted June 9, 2022 Share Posted June 9, 2022 On my 800 + K I have in 3 month fixed account for Immigration, on my recent update I got 17 Baht interest ! took tax off it. the rate .325 % , that money is slowly melting away in value. I remember long ago getting 18 % interest here , the good old days ,used to go around the banks hawking my money ,always got to see the manager,use to get .25 % or .50 % more, they wanted your cash, now they don't want to know you. regards worgeordie 1 Link to comment Share on other sites More sharing options...
jacko45k Posted June 9, 2022 Share Posted June 9, 2022 1 hour ago, worgeordie said: On my 800 + K I have in 3 month fixed account for Immigration, on my recent update I got 17 Baht interest ! took tax off it. the rate .325 % , that money is slowly melting away in value. That doesn't make sense.... 800k at 0,325% interest p.a is 650 baht for 3 months and about 550 after withholding tax. 1 Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 9, 2022 Share Posted June 9, 2022 2 hours ago, jacko45k said: That doesn't make sense.... 800k at 0,325% interest p.a is 650 baht for 3 months and about 550 after withholding tax. I used to make enough on my 800k fixed deposit to pay my annual extension fee, my fee to the bank for the annual letter, and have enough for lunch for the GF and me at CW. Now it's just enough to pay the 1900 Thb extension fee and nothing more. From 4% to .0325 in 3 years. Link to comment Share on other sites More sharing options...
jacko45k Posted June 9, 2022 Share Posted June 9, 2022 (edited) 26 minutes ago, ThailandRyan said: I used to make enough on my 800k fixed deposit to pay my annual extension fee, my fee to the bank for the annual letter, and have enough for lunch for the GF and me at CW. Now it's just enough to pay the 1900 Thb extension fee and nothing more. From 4% to .0325 in 3 years. Wow. 0,0325%.. you can do better surely. I stopped reclaiming my withholding tax, Not worth the effort... a bit worried they will 'come after me'.......for not doing a tax form. Edited June 9, 2022 by jacko45k Link to comment Share on other sites More sharing options...
worgeordie Posted June 9, 2022 Share Posted June 9, 2022 (edited) 3 hours ago, jacko45k said: That doesn't make sense.... 800k at 0,325% interest p.a is 650 baht for 3 months and about 550 after withholding tax. Yes your right , just noticed they calculate the interest every month it's confusing as they gave 5 lots of interest on 3 month fixed B139 , 231.17 ,369.07 , 15.65 , 82.42 , total 817.31 tax 125.62 B interest rate is .3750 % , But whatever, well below inflation. regards Worgeordie Edited June 9, 2022 by worgeordie Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now