Another 0.25% policy rate hike by the MPC at the end of last month.

As a result, Thai interest rates rose to 1%.

The remaining MPC again this year

The interest rate will be raised by 0.25%

, bringing the Thai interest rate up to 1.25% this year, but still lower than the US interest rate.

To hit 4.5% by the end of the year, the drastic rate hikes to push inflation to a 40-year high in the United States will not only affect Americans at large.

affecting the US economy into recession again

but also affects the world as well.

interest rate hike

The MPC two times in the past

It depends on the economic factors in Thailand itself.

Not according to US interest rates.

Dr. Setthaput Suthiwatanaruput

Bank of Thailand governor insists that Thailand does not need to raise interest rates according to the United States.

because the Thai economy and the US

totally different

adopting the US monetary policy

To guide the Thai economy would not be appropriate.

This will cause the Thai baht to appreciate more than all regional currencies.

Thailand has no policy to tie the baht to the US dollar.

Therefore, Thai monetary policy does not need to be followed by the US Federal Reserve.

It is a clear monetary policy from the governor of the Bank of Thailand.

Methee Supapong, Deputy Governor of the Bank of Thailand

financial stability

also stated in the same direction that

Interest rate difference between Thailand and the US

It is not the sole determinant of foreign capital outflows.

Because each country has different specific factors.

Although the baht depreciated

But there is still a net foreign capital inflow of 3.9 billion US dollars.

Only 600–700 million outflows, some countries raise interest rates higher than Thailand.

But the currency is weaker than Thailand.

The depreciation of the baht was caused by the appreciation of the US dollar.

from raising interest rates of the US Federal Reserve

It does not affect the economy and inflation as a whole.

But the interest rate hike

The MPC two times in the past

As a result, commercial banks have to raise interest rates accordingly.

The MPC's first interest rate hike by 0.25%, commercial banks helped hold interest rates, but when the MPC raised interest rates another 0.25% to 0.50%, commercial banks had to raise interest rates based on both deposit and loan interest.

but also freeze the interest on retail loans

to provide opportunities for recovery

the last two days

Major banks have gradually raised interest rates.

Bangkok Bank announces an increase in deposit interest rates by 0.15–0.50% per annum, an increase in the interest for prime customers by 0.40% per annum, an increase in overdrafts of 0.375% per annum, and an increase in the interest of a prime retail customer 0.30% per annum, effective from 29 September

Krung Thai Bank

Increased fixed deposit interest rates by 0.15-0.825% for 24-month and 36-month fixed deposits, increasing the maximum 0.825% to 1.20% per annum to take care of depositors to earn more.

and promote long-term savings

Raised loan interest for prime major customers by 0.25% to 5.50% per annum. Raised interest for prime major customers overdraft by 0.25% to 6.07% per annum, but maintained interest rates for retail customers.

to be able to recover

Effective October 4

Siam Commercial Bank

also announced an increase in the deposit interest rate by 0.50%, a 0.25% increase in the interest rate for major customers, but kept the interest rate for good retail customers, effective from October 4.

The 0.25% interest rate hike for prime major customers is very low.

but not raising interest rates for fine retail customers

It's admirable.

to provide opportunities for retail customers to recover

The US and European economies are in recession.

But the Thai economy is slowly recovering, even though it's only growing 3% this year and next.

It's good.

Let it be Slow But Sure expansion.

"The wind changes direction"