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Thailand keep rates unchanged

The Monetary Policy Committee of the Bank ot Thailand decided to maintain the policy interest rate for the time being at 1.75 per cent per annum.

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The Monetary Policy Committee of the Bank ot Thailand decided to maintain the policy interest rate for the time being at 1.75 per cent per annum.

Monetary Policy Committee’s Decision on 20 October 2010 Mr. Paiboon Kittisrikangwan, Assistant Governor, Bank of Thailand, announces the outcome of the Monetary Policy Committee (MPC) meeting today, as follows. The global economy continued to recover but is expected to slow somewhat in the period ahead.

The US and Japanese economies remain fragile due to risks from high unemployment and the sluggish recovery in consumption. The European economies still face the challenge of managing high fiscal deficits next year. Meanwhile, Asian economies continue to grow robustly, driven by consumption and investment.

The Thai economy is expected to grow primarily due to domestic demand. Nevertheless, the risk that decelerated global growth may adversely impact Thai exports remains. Meanwhile, the outlook on inflation pressure remains unchanged. While the interest rate normalization in Thailand is ongoing, the global economic recovery is now expected to slow in tandem with an increase in uncertainty in the world economy and financial markets compared to the last MPC meeting.

The MPC therefore decided to maintain the policy interest rate for the time being at 1.75 per cent per annum.

Deposit Rates for Individuals of Commercial Banks as of 20 October 2010
BankSavingFixed
3 mths6 mths12 mths24 mths
Commercial Banks registered in Thailand
Bangkok Bank0.50001.00001.1250-1.25001.2500-1.50002.0000-2.2500
Krung Thai Bank0.50000.90001.10001.10001.8500
Kasikornbank0.50000.8500-0.90001.1000-1.20001.1500-1.40002.0000-2.2500
The Siam Commercial Bank0.50000.8500-1.00001.1000-1.20001.1500-1.40002.0000-2.2500
Bank of Ayudhya0.50001.05001.2000-1.30001.3500-1.50002.0000-2.2500
TMB Bank0.5000-0.75001.0000-1.50001.20001.2000-1.75002.0000-2.2500
The Siam City Bank0.5000-0.75001.0500-1.10001.2000-1.40001.3500-1.50002.0000-2.2500
United Overseas Bank (Thai) Company Ltd.0.50000.9000-1.00001.1000-1.20001.2500-1.50001.7500
CIMB THAI Bank0.50001.00001.25001.50002.2500
Standard Chartered Bank (Thai)0.0000-1.25000.75000.90001.00001.5000
Thanachart Bank0.5000-0.75001.0500-1.10001.2000-1.40001.3500-1.50002.0000-2.2500
TISCO Bank0.7500-1.25001.25001.25001.75002.0000
Mega International Commercial Bank0.50000.85001.10001.4000
Kiatnakin Bank0.75001.2500-1.50001.5500-1.75001.8000-2.00002.1500-2.7500
Land and Houses Retail Bank0.0000-1.50001.1250-1.45001.4000-1.55001.5500-1.75002.5000
Industrial and Commercial Bank of China (Thai)0.7500-1.25001.25001.37501.50002.2500
The Thai Credit Retail Bank0.75001.45001.4500-1.60001.80002.2500-2.5000
For further information, please contact:
Monetary Policy Strategy Team 1 Tel: +66 (0) 2283 5621, 283 6186
e-mail: MonetaryPolicyStrategyTeam@bot.or.th
No. 48/ 2010
Monetary Policy Committee’s Decision on 20 October 2010
Mr. Paiboon Kittisrikangwan, Assistant Governor, Bank of Thailand,
announces the outcome of the Monetary Policy Committee (MPC) meeting today, as
follows.
The global economy continued to recover but is expected to slow somewhat
in the period ahead. The US and Japanese economies remain fragile due to risks from high
unemployment and the sluggish recovery in consumption. The European economies still
face the challenge of managing high fiscal deficits next year. Meanwhile, Asian
economies continue to grow robustly, driven by consumption and investment.
The Thai economy is expected to grow primarily due to domestic demand.
Nevertheless, the risk that decelerated global growth may adversely impact Thai exports
remains. Meanwhile, the outlook on inflation pressure remains unchanged.
While the interest rate normalization in Thailand is ongoing, the global
economic recovery is now expected to slow in tandem with an increase in uncertainty in
the world economy and financial markets compared to the last MPC meeting. The MPC
therefore decided to maintain the policy interest rate for the time being at 1.75 per cent per
annum.For further information, please contact: Monetary Policy Strategy Team 1 Tel: +66 (0) 2283 5621, 283 6186 e-mail: MonetaryPolicyStrategyTeam@bot.or.th No. 48/ 2010 Monetary Policy Committee’s Decision on 20 October 2010 Mr. Paiboon Kittisrikangwan, Assistant Governor, Bank of Thailand, announces the outcome of the Monetary Policy Committee (MPC) meeting today, as follows. The global economy continued to recover but is expected to slow somewhat in the period ahead. The US and Japanese economies remain fragile due to risks from high unemployment and the sluggish recovery in consumption. The European economies still face the challenge of managing high fiscal deficits next year. Meanwhile, Asian economies continue to grow robustly, driven by consumption and investment. The Thai economy is expected to grow primarily due to domestic demand. Nevertheless, the risk that decelerated global growth may adversely impact Thai exports remains. Meanwhile, the outlook on inflation pressure remains unchanged. While the interest rate normalization in Thailand is ongoing, the global economic recovery is now expected to slow in tandem with an increase in uncertainty in the world economy and financial markets compared to the last MPC meeting. The MPC therefore decided to maintain the policy interest rate for the time being at 1.75 per cent per annum.

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