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FRIDAY, September 30, 2022
Arkhom wants banks to hold interest rates

Arkhom wants banks to hold interest rates

MONDAY, June 06, 2022

Finance Minister Arkhom Termpittayapaisith has told state banks to maintain their interest rates to help citizens and business operators in the current economic situation.

Arkhom said on Monday that since interest rates were on an increasing trend, he had asked state banks to keep the interest rate for as long as possible.

Regarding the central bank’s key policy rate, he was waiting for the information from the Monetary Policy Committee (MPC) because their decision is mostly based on external factors.

However, as the economy is recovering the MPC must consider both factors together.

Arkhom added that the MPC should also consider the difference in interest rates between Thailand and foreign countries, to prevent money flowing out of the country.

At the same time, the MPC must make sure that the domestic interest rate was not too high because the economy is recovering.