Interest Rates Fixed Until The End Of This Year

GSB decided to peg interest rate until the end of this year

The Government Savings Bank (GSB) has decided to fix the interest rate until the end of this year, to help reduce the financial burdens of people in the grass-root level.

Mr. Konpot Asawinvijit (กรพจน์ อัศวินวิจิตร), the Director of the GSB, spoke about the possibility of interest rate adjustment, saying that the bank wants to consider the financial policies of the Monetary Policy Committee (MPC) first.

The policies will be issued this afternoon. He views that the interest rate in the foreign market has shown a sign to increase.

He said that if the MPC announces to raise the interest rate, the bank should follow the policy in order to maintain liquidity. However, he said that the bank will raise only the short-term interest rate.

Source: Thai National News Bureau Public Relations Department - 07 June 2006