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 [...]
