Bank of Ayudhya announced a 0.15% rate cut effective 27th May, 2009.
The Minimum Lending Rate (MLR) is thus 6.25%, with Minimum Retail Rate (MRR) and Minimum Overdraft Rate (MOR) at 6.75%.
This makes it the 4th local bank to announce rate cuts after pressure from the Central Bank and Finance Ministry to pass on previous rate [...]
Siam Commercial Bank and Kasikorn Bank announced lending rate cuts effective Monday 25th May, 2009.
Siam Commercial Banks reduction by 0.15% brings its Minimum Lending Rate (MLR) to 6.0%, Minimum Overdraft Rate (MOR) to 6.25% and Minimum Retail Rate (MRR) to 6.5%.
Kasikorn Bank announced a quarter percentage point cut for an MLR of 5.85%, MOR of [...]
After some nudging from the Finance Minister and the Central Bank, Bangkok Bank took the lead in cutting interest rates by 0.125% effective Thursday 21st May, 2009.
Prime Lending Rate is now 5.875%, Minimum Retail Rate (MRR) 6.5% and Minimum Overdraft Rate (MOR) 6.125%. Deposit rates remain unchanged.
The announcement comes on the heels of the Bank [...]
In its meeting on 8th April, 2009, the Bank of Thailand cut the short-term policy interest rate by 0.25%, reducing it to 1.25%.
This is the 4th cut in interest rates since December 2008. With inflation on a declining trend, the focus is on supporting the economy and stimulating the recovery.
You may recall that on 25th March, [...]
On 25th March, 2009, Bangkok Bank cut its lending rates and most deposit rates by 0.25%, thereby reducing its MLR to 6%. This is the second reduction in March and reflects the current excess liquidity in the banking system.
The bank Executive Chairman said that banks are lending money as usual, but demand for new loans has [...]
Bangkok Bank, Krung Thai Bank and Bank of Ayudhya have announced rate cuts effective Monday 2nd March, 2009.
Bangkok Bank announced a 0.25% cut in loan and deposit rates, with the Minimum Loan Rate (MLR) down to 6.25%, Minimum Retail Rate (MRR) down to 6.75% and savings deposit rate at 0.5%. Three month fixed deposit rates [...]
The Bank of Thailand has cut short term interest rates by 0.5% in another measure to boost the economy.
In response, Siam Commercial Bank has cut lending and deposit rates by 0.25%. For the first time in a decade, it is cutting savings deposit rates from the already paltry 0.75% to 0.5%.
To put this in perspective, [...]
Bangkok Bank and Kasikorn Bank announced interest rate cuts of 0.25% yesterday, according to a report in the Bangkok Post.
The cut saw the Minimum Lending Rates (MLR) down to 6.5%, and Minimum Retail Rates (MRR) at 7%.
These were the first 2 commercial banks to announce rate cuts after the Government Housing Bank announced cuts on [...]
The Bank of Thailand cut the key interest rate by 0.75% to 2%.
But don’t hold your breath that this cut will be passed on to you by way of lower mortgage rates. The last cut of 1% (see my post 12th December, 2008) was not passed on and I think people have finally recognised this, [...]
The Bank of Thailand has cut interest rates sharply in order to stimulate the economy. Obviously, if those cuts are not passed on, there is no effect.
You may recall when inflation was short-lived flavour of the month recently, banks did not hesitate to raise interest rates even before the Central Bank did.
Now that the Central [...]
