BoT Raises Key Interest Rate to 2.50%

[snoop1130]

 

BANGKOK, Sept 27 (TNA) – The Bank of Thailand (BoT)’s Monetary Policy Committee (MPC) voted unanimously to raise the policy rate by 0.25 percentage point from 2.25 to 2.50 percent, effective immediately, announced Mr. Piti Disyatat, MPC’s Secretary.

 

The Thai economy overall continued to recover in 2023, albeit at a slower pace due to soft external demand. Growth should pick up in 2024, supported by both domestic and global demand.

 

Full story: Thai News Agency 2023-09-27

 

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[connda]

Whoo Hoo.
I guess that means that Thai banks will offer 0.050% on long-term accounts.  <laughs>

[retarius]

It needs to be at least 10% to raise the value of the baht, kill off inflation and ensure that only quality business ideas are funded. Really how many thousand cannabis shops, empty of customers, are there? Thousands upon thousands. Same with coffee shops, we must have 100 in our town with hardly anyone in them. 

Low interest rates are not good for growth because the encourage lending to people poor quality ideas like cannabis shops and coffee shops. This is misallocation of capital and therefore people with better ideas are squeezed out of the lending market by zombie businesses. 

[whiteman]

just simple money laundering coffee shops and cannabis shops

[Celsius]

1 hour ago, retarius said:

It needs to be at least 10% to raise the value of the baht

and another 10% for a 3rd world country premium.

[nobodysfriend]

Everything is more expensive at the local supermarkets ...

Raise the rate to 5% would be good ...

[rickudon]

Unemployment - Nephew and his girlfriend both graduated from Rajahabat in last few years, supposedly with qualifications good for government jobs - jobs promised but never fulfilled. He now kills chickens and she is going to return to her home to work in family shop (he may follow if business can accommodate him). That's the problem, lack of good jobs. Many of the workers laid off from tourism during Covid came back home to Udon and set up small roadside businesses, most are still here.

 

For many Thais, no future, just living from day to day, month to month. 

 

In our extended family, 3 retired, 2 teachers, 2 retail employees, 6 self employed in selling things in markets or home shops.

[jacko45k]

11 hours ago, rickudon said:

For many Thais, no future, just living from day to day, month to month. 

Rather sad when one sees the regimented receiving of qualifications from a Royal hand, in very large numbers, on the Thai TV channels. 

[redwood1]

12 hours ago, rickudon said:

Unemployment - Nephew and his girlfriend both graduated from Rajahabat in last few years, supposedly with qualifications good for government jobs - jobs promised but never fulfilled. He now kills chickens and she is going to return to her home to work in family shop (he may follow if business can accommodate him). That's the problem, lack of good jobs. Many of the workers laid off from tourism during Covid came back home to Udon and set up small roadside businesses, most are still here.

 

For many Thais, no future, just living from day to day, month to month. 

 

In our extended family, 3 retired, 2 teachers, 2 retail employees, 6 self employed in selling things in markets or home shops.

Wrong....There is a very good future for Thai women who can hook up with retired frangs with a fat pension who are well on the road to their sunset years.....