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Domestic interest rates to begin rising, says banker

Domestic interest rates to begin rising, says banker

Thailand’s domestic interest rates are likely to start edging up, fuelled by government plans to issue bonds to raise around Bt300 billion early next year, according to a top banker.
Speaking during a function held to mark the 56th anniversary of the establishment of the Government Housings Bank, its president Khan Prachuabmoh said the bond issue might cause interest rates to climb as some depositors choose to withdraw their money from banks to buy bonds offering higher yields.
However, he did not believe the interest rate would increase considerably, so he sees it to be an appropriate time for prospective real property buyers to decide on house purchases.
Regarding housing loans extended under the fast track loan project, he said the bank had already approved the provision of over one billion baht. It is expected the remaining loans would be completely extended as targeted in the rest of this year because the public preferred to make decisions on home ownership transfer at the year end, he said. (TNA)

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