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Banks hesitate to raise interest
Commercial banks need not raise lending and deposit rates in parallel with the policy interest rate hike by the Bank of Thailand since liquidity in the system remains high, according to a veteran banker.
Chatichai Payuhanavee, Senior Director of Kasikornbank Plc's Consumer Loan Division, said although the BoT's Monetary Policy Committee decided to raise the key 14-day repurchase rate by 25 basis point to 5%, it did not mean the commercial banks must increase the interest rates immediately.
He reasoned any move to raise the interest rates would fuel the banks' costs. By Rajesh Kumar, Section Business Posted on Thu Jun 08, 2006 at 01:39:32 AM EST
At the same time, the liquidity in the system is still as high as 600 billion baht and the minimum lending rate is already considered high at current.
Given the current situation, he conceded, the interest rates still have a room to increase further. However, he did not think any banks would raise MLR to 10% at present. "The interest rate has normally moved up and down like the economy. What we can do is to supervise it to prevent adverse impacts on the economy," he said. (TNA) http://www.bangkokpost.com/breaking_news/breakingnews.php?id=101908
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