A senior executive at the Bank of Thailand hinted at the possibility of interest rate slashes, which could provide a lifeline to struggling debtors, desperate to escape from their worsening debt cycles. In talks with the Thai Bankers’ Association (TBA) and other related groups, the central bank is exploring various methods to curb the nation’s escalating household debt.
According to the central bank’s deputy governor, Ronadol Numnonda, such cuts could provide a reprieve for burdened borrowers who have been shouldering persistent debts for a considerable period. He revealed that this month, the regulator plans to introduce three initiatives focused on responsible lending, risk-based pricing, and macroprudential policy, aimed at resolving the nation’s troublesome household debt situation. Following this, Ronadol announced, the central bank…
