Bangkok Bank announced its plan to decrease retail loan rates by 25 basis points for a six-month duration, starting from April 29. The objective is to alleviate the financial burden for vulnerable borrowers by reducing their interest payments.
This decision aligns with the recent directive from the Thai Bankers’ Association, urging its members to lower rates following a government appeal. Mr. Srettha, among others, has been advocating for the Bank of Thailand (BoT) to decrease the policy rate in a bid to reinforce the country’s economic recovery.
Contrary to these requests, the Monetary Policy Committee (MPC) of the central bank chose to maintain the rate at 2.5% for the third consecutive meeting earlier this month. The MPC’s decision was influenced by the positive growth trajectory witnessed in the Thai economy, surpassing the levels seen in 2023.
