HOME > NATION > Article

Text Size

small

medium

large


Julapun tells state banks to cut interest rates after policy rate drop

Julapun tells state banks to cut interest rates after policy rate drop

Provided by Nation.

Bank of Thailand Monetary Policy Committee announced 0.25-percentage-point rate cut on February 26

Deputy Finance Minister Julapun Amornvivat has ordered seven state-owned financial institutions to lower loan interest rates swiftly after the Bank of Thailand Monetary Policy Committee’s 0.25-percentage-point rate cut on February 26. However, no state banks have made adjustments yet.

“When rates rise, banks act quickly, but when they drop, days pass without action. I have reiterated the urgency of lowering interest rates to ease financial burdens and boost spending. As chairman of the board of the Bank for Agriculture and Agricultural Cooperatives, I have also instructed its management to proceed,” Julapun said.



Meanwhile, Deputy Prime Minister and Finance Minister Pichai Chunhavajira addressed concerns over whether other state banks would follow suit. He said banks’ monetary-policy authorities must assess both domestic and global conditions before making decisions.

 The seven state-owned financial institutions are: Government Savings Bank (GSB), Bank for Agriculture and Agricultural Cooperatives (BAAC), Government Housing Bank (GHB), Export-Import Bank of Thailand (EXIM Bank), Small and Medium Enterprise Development Bank of Thailand (SME D Bank), Islamic Bank of Thailand (IBank), and Thai Credit Guarantee Corporation (TCG).

NATION

HEADLINES

POLITICS
Full-Scale Debate on Active Cyber Defense Bill Starts at Japan Lower House Panel
ECONOMY
70,000 Tons of Govt-Stockpiled Rice Up for 2nd Round of Tender Starting March 26
SPORTS
Tsuruga Kehi Advances to 2nd Round of Japan High School Baseball Tournament
OTHER
Climate Change behind Feb. Heavy Snow in Hokkaido, Tohoku, Hokuriku: Research

AFP-JIJI PRESS NEWS JOURNAL


Photos