Bank of Thailand considers interest rate cuts to address household debt

[Jumbo1968]

I have often wondered in a country where the majority of the the people are barely on a living wage.but still running around in gas guzzlers ?

[whiteman]

Interest rate in Thailand is nothing to wrote home about so I suppose every little bit said the monkey as he pissed in the sea

[h90]

41 minutes ago, Jumbo1968 said:

I have often wondered in a country where the majority of the the people are barely on a living wage.but still running around in gas guzzlers ?

We had several customer who supported larger companies in servicing hydraulics....they did well...turnover 100-200.000 Baht with us and a got 20-40% added for themself on top of it.....Often they come from motorbike delivery guys who had good contact with the customers.

All of them at some point went from motorbike to car...had big costs and stand in the traffic jam, visiting less customer and lost their business again. Because without car you are not important....

[fulhamster]

On 7/6/2023 at 2:35 PM, Jumbo1968 said:

Just bought a car, cash, whilst looking for one every advert included finance whilst apparently cheap monthly repayments the interest rate was phenomenal. 
Looking at the cars history it looked like it had been a repossession from the previous owner by the bank.

I tried to buy a new car for cash ..... impossible. Only available on finance, which over 5 years cost 40% more than the advertised price - and that was with zero interest for the first year

[jaideedave]

On 7/7/2023 at 9:10 AM, Jumbo1968 said:

I have often wondered in a country where the majority of the the people are barely on a living wage.but still running around in gas guzzlers ?

Very good point.My sister in law scored a gov't job.First thing they did was borrow 1 mil to buy a new pick up and clear a couple debts.Now they are in payment heaven...IE: broke as f.

[Thingamabob]

Ridiculous proposal which wilil not help debtors in any way whatsoever. Could, though, push the value of the baht down against foreign currencies which would be good news for many of us.