webfact Posted May 31, 2023 Share Posted May 31, 2023 BANGKOK – The Bank of Thailand (BoT) raised its key policy rate by 0.25 percentage point from 1.75 to 2.00 percent, effective immediately. Mr. Piti Disyatat, Secretary of the Monetary Policy Committee (MPC), announced the outcome of the meeting on Wednesday. The Thai economy should continue to expand, driven mainly by tourism and private consumption. Merchandise exports are expected to recover gradually. Full story: https://tna.mcot.net/english-news-1182019 -- © Copyright Thai News Agency 2023-06-01 - 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. The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information. 1 Link to comment Share on other sites More sharing options...
spidermike007 Posted June 1, 2023 Share Posted June 1, 2023 With the huge spread that Thai banks charge this likely means home loans at over 7%. This will likely mean a slowing down of the residential and condo market even more. Anyone looking to buy might want to wait a bit. Prices are likely to correct, even more. 1 Link to comment Share on other sites More sharing options...
Popular Post proton Posted June 1, 2023 Popular Post Share Posted June 1, 2023 About time the rates on savings increased 2 1 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted June 1, 2023 Share Posted June 1, 2023 Not euphoric. By usual rules this would strengthen the Baht even more? Link to comment Share on other sites More sharing options...
Popular Post FlorC Posted June 1, 2023 Popular Post Share Posted June 1, 2023 At these rates , the 800k in the bank is like a hidden tax to stay in the country. 3 1 1 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted June 1, 2023 Popular Post Share Posted June 1, 2023 2 % , what the banks are offering on your deposits , still well below the real inflation figures, not what Govt says inflation rates are. I am getting less than 1 % on my retirement account at Bangkok Bank. Cash used to be king , now its melting away.... regards worgeordie 2 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted June 1, 2023 Share Posted June 1, 2023 1 hour ago, FlorC said: At these rates , the 800k in the bank is like a hidden tax to stay in the country. Another reason for me to unfreeze the money this year by the income method. Link to comment Share on other sites More sharing options...
FlorC Posted June 1, 2023 Share Posted June 1, 2023 3 hours ago, KhunBENQ said: Another reason for me to unfreeze the money this year by the income method. Yes but if you don't have the required 65k a month , you have to do the combination methode at the yearly extention. A bigger pain. + monthly paying the banks for the transfer , no thanks. Link to comment Share on other sites More sharing options...
gamb00ler Posted June 1, 2023 Share Posted June 1, 2023 (edited) 6 hours ago, FlorC said: At these rates , the 800k in the bank is like a hidden tax to stay in the country. 5 hours ago, KhunBENQ said: Another reason for me to unfreeze the money this year by the income method. I ran some quick calculations and you wouldn't benefit that much by keeping the 800K ฿ in either a money market or short term CD back in USA. My assumptions were: receiving 1.5% interest at SCB EZ savings account in Thailand receiving 4.8% in US money market transferring via Wise at the start of each month funds are never transferred back to US fluctuations in exchange rates assumed to cancel out over the course of a year each Wise transfers costs .0625% of value + 1$ (using Wise's cheapest method) transferred funds are deposited into SCB EZ savings account immediately Net result is keeping money in SCB gives 812,000฿ at year end. Keeping funds in US and sending 65K฿ to Thailand each month gives 819,183฿ at end of year. After expenses the US account with monthly transfers gives you an extra 7,183 ฿. If you live a little dangerously and wait until near the end of each month before doing the transfer to Thailand you can improve that result slightly. Edited June 1, 2023 by gamb00ler 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted June 1, 2023 Share Posted June 1, 2023 (edited) 5 hours ago, FlorC said: Yes but if you don't have the required 65k a month , you have to do the combination methode at the yearly extention. A bigger pain. + monthly paying the banks for the transfer , no thanks. I can still get an income certification from the consulate. State pension plus company benefits would be > 65k. I will try this after the latest pension rise statement comes via postal mail. Edited June 1, 2023 by KhunBENQ Link to comment Share on other sites More sharing options...
KhunBENQ Posted June 1, 2023 Share Posted June 1, 2023 3 hours ago, gamb00ler said: I ran some quick calculations and you wouldn't benefit that much by keeping the 800K ฿ Maybe it was not clear enough. I only want to free the money in case I need it for an urgency like a surgical procedure. Link to comment Share on other sites More sharing options...
FlorC Posted June 2, 2023 Share Posted June 2, 2023 13 hours ago, KhunBENQ said: Maybe it was not clear enough. I only want to free the money in case I need it for an urgency like a surgical procedure. That is the other side of the coin of course. The 800k as health insurance. If I had paid for that insurance , all the money would have been gone , but the 800k is still there. 1 Link to comment Share on other sites More sharing options...
Henryford Posted June 2, 2023 Share Posted June 2, 2023 (edited) 22 hours ago, KhunBENQ said: Another reason for me to unfreeze the money this year by the income method. Even if i move to the income method i would still want to keep a sizeable sum in the bank here, for emergencies. So the 400k, for 7 months, is not too bad. And, until recently, i get more interest than i would in a UK bank. Edited June 2, 2023 by Henryford 1 1 Link to comment Share on other sites More sharing options...
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