Policy interest rate kept at 1.5 percent

[webfact]

Policy interest rate kept at 1.5 percent



BANGKOK: -- The Monetary Policy Committee has agreed unanimously by 7:0 votes to maintain policy interest rate at 1.5 percent to reflect the slow economic recovery and export contraction.

Mr Methee Supapong, secretary of the committee, said Wednesday the committee felt that the economy for the second quarter and for July was slowly expanding whereas exports continued to contract in response to the dampened economic situations in China and the rest of Asia against the backdrop of stagnant household revenues.

However, he said that tourism industry has steadily improved and disbursement of government investments have helped spur the economy.

As for oil price, Mr Methee said that oil price would continue to be on the downward trend until the first quarter of next year when it was expected to rebound.

The committee feels that the Thai economy is still affected by negative external factors although the weak baht has helped in export trade.

Source: http://englishnews.thaipbs.or.th/policy-interest-rate-kept-at-1-5-percent


-- Thai PBS 2015-09-17

[BuaBS]

Low interest rate on the mandatory 800 K , hurts !

[Srikcir]

Wait until end of 2015Q4, then there will be another cut to set the stage for recovery in 2016. That will give Somkid some breathing room for longer-term economic solutions. A rate cut now would only undercut Somkid's recent short-term economic measures.

The government seems to have a little more internal coordination on economic matters than during Devaluka term. Hopefully, Prayut will appreciate that and restrain his interference in economic matters.

[lostoday]

Low interest rate on the mandatory 800 K , hurts !

Difference between 1 and 3% interest is what? About $30 per month?

[BuaBS]

Low interest rate on the mandatory 800 K , hurts !

Difference between 1 and 3% interest is what? About $30 per month?

A 1000 B/month , is 2 weeks food , 12.000 B a year is as much as my car insurance. 1,5 % ? So the banks earn more off my money than me ( not even considdering fractional banking !!). And that's only on the mandatory 800 k. And yes that hurts !

[lostoday]

Low interest rate on the mandatory 800 K , hurts !

Difference between 1 and 3% interest is what? About $30 per month?

A 1000 B/month , is 2 weeks food , 12.000 B a year is as much as my car insurance. 1,5 % ? So the banks earn more off my money than me ( not even considdering fractional banking !!). And that's only on the mandatory 800 k. And yes that hurts !

Don't you only need to keep the money in the bank for 3 months a year? So why talk about yearly expenses? What else would you do with the money that makes more interest for 3 months?

[BuaBS]

Low interest rate on the mandatory 800 K , hurts !

Difference between 1 and 3% interest is what? About $30 per month?

A 1000 B/month , is 2 weeks food , 12.000 B a year is as much as my car insurance. 1,5 % ? So the banks earn more off my money than me ( not even considdering fractional banking !!). And that's only on the mandatory 800 k. And yes that hurts !

Don't you only need to keep the money in the bank for 3 months a year? So why talk about yearly expenses? What else would you do with the money that makes more interest for 3 months?

I really detest banks. I hate to keep my 800 k there , but what can you do with it the other 9 months ?

Slushing it back and forth to Europe and back , exchanging it in other currencies or real money is not an option , so you're kind of stuck with it for a whole year.

I used to get 2,8 % , but now it's much less because of the cuts in interest of the BoT.

So yes I lose like the cost of car insurance or 14 days of food each month. I guess it is a sort of Thai tax for being on retirement extension, only it's the banks , again, that win.

[lostoday]

A 1000 B/month , is 2 weeks food , 12.000 B a year is as much as my car insurance. 1,5 % ? So the banks earn more off my money than me ( not even considdering fractional banking !!). And that's only on the mandatory 800 k. And yes that hurts !

Don't you only need to keep the money in the bank for 3 months a year? So why talk about yearly expenses? What else would you do with the money that makes more interest for 3 months?

I really detest banks. I hate to keep my 800 k there , but what can you do with it the other 9 months ?

Slushing it back and forth to Europe and back , exchanging it in other currencies or real money is not an option , so you're kind of stuck with it for a whole year.

I used to get 2,8 % , but now it's much less because of the cuts in interest of the BoT.

So yes I lose like the cost of car insurance or 14 days of food each month. I guess it is a sort of Thai tax for being on retirement extension, only it's the banks , again, that win.

Since EU bank interest is about the same as Thailand I think you just like to complain.

[BuaBS]

A 1000 B/month , is 2 weeks food , 12.000 B a year is as much as my car insurance. 1,5 % ? So the banks earn more off my money than me ( not even considdering fractional banking !!). And that's only on the mandatory 800 k. And yes that hurts !

Don't you only need to keep the money in the bank for 3 months a year? So why talk about yearly expenses? What else would you do with the money that makes more interest for 3 months?

I really detest banks. I hate to keep my 800 k there , but what can you do with it the other 9 months ?

Slushing it back and forth to Europe and back , exchanging it in other currencies or real money is not an option , so you're kind of stuck with it for a whole year.

I used to get 2,8 % , but now it's much less because of the cuts in interest of the BoT.

So yes I lose like the cost of car insurance or 14 days of food each month. I guess it is a sort of Thai tax for being on retirement extension, only it's the banks , again, that win.

Since EU bank interest is about the same as Thailand I think you just like to complain.

Unlike you , I understand the continuing THEFT of the paper and money pushers at banks and central banks. People have lost billions due to pushed down interest rates, Zirp and nirp are coming or are already there. But , but... we live in a deflation....yeah right !

[lostoday]

I really detest banks. I hate to keep my 800 k there , but what can you do with it the other 9 months ?

Slushing it back and forth to Europe and back , exchanging it in other currencies or real money is not an option , so you're kind of stuck with it for a whole year.

I used to get 2,8 % , but now it's much less because of the cuts in interest of the BoT.

So yes I lose like the cost of car insurance or 14 days of food each month. I guess it is a sort of Thai tax for being on retirement extension, only it's the banks , again, that win.

Since EU bank interest is about the same as Thailand I think you just like to complain.

Unlike you , I understand the continuing THEFT of the paper and money pushers at banks and central banks. People have lost billions due to pushed down interest rates, Zirp and nirp are coming or are already there. But , but... we live in a deflation....yeah right !

So not really anything to do with Thailand you just don't like banks.

[BuaBS]

I really detest banks. I hate to keep my 800 k there , but what can you do with it the other 9 months ?

Slushing it back and forth to Europe and back , exchanging it in other currencies or real money is not an option , so you're kind of stuck with it for a whole year.

I used to get 2,8 % , but now it's much less because of the cuts in interest of the BoT.

So yes I lose like the cost of car insurance or 14 days of food each month. I guess it is a sort of Thai tax for being on retirement extension, only it's the banks , again, that win.

Since EU bank interest is about the same as Thailand I think you just like to complain.

Unlike you , I understand the continuing THEFT of the paper and money pushers at banks and central banks. People have lost billions due to pushed down interest rates, Zirp and nirp are coming or are already there. But , but... we live in a deflation....yeah right !

So not really anything to do with Thailand you just don't like banks.

The BoT is not only influenced by other central banks , but is copying them. The theft by means of low interest rates is happening in Thailand too , and we live here ...so I guess it is Thai related and affects my spending in Thailand. Yes I hate banks and guess what , there are banks here in Thailand, ok ? Finished baiting me ?

[lostoday]

Since EU bank interest is about the same as Thailand I think you just like to complain.

Unlike you , I understand the continuing THEFT of the paper and money pushers at banks and central banks. People have lost billions due to pushed down interest rates, Zirp and nirp are coming or are already there. But , but... we live in a deflation....yeah right !

So not really anything to do with Thailand you just don't like banks.

The BoT is not only influenced by other central banks , but is copying them. The theft by means of low interest rates is happening in Thailand too , and we live here ...so I guess it is Thai related and affects my spending in Thailand. Yes I hate banks and guess what , there are banks here in Thailand, ok ? Finished baiting me ?

You led by complaining about Thailand's low interest rate making it difficult for you. In reality you don't like banks be they in Thailand or your home country and like to complain about imagined wrongs by banks in any country.

Which has nothing to do with the Thai interest rate. Thais don't keep the interest rate at 1.5% to steal from you.

The Fed did not raise rates. Thailand did not raise rates. The raise you got was in the value of your currency re the baht.

The bank of Thailand has a trillion baht and has just taken a hosing re value of its currency vis a vis foreign assets.

If you want more interest take your money out of the bank and buy stocks or bonds for 9 months a year.

I don't think the topic of this thread was banks stealing from customers.

Edited September 19, 2015 by lostoday