Banks have announced they will increase both loan and deposit rates in response to the Bank of Thailand’s (BoT) monetary policy direction, following the decision by the central bank last week to raise its policy rate by a quarter of a percentage point.
Banks are attempting to attract depositors by offering special rates for digital savings products.
Siam Commercial Bank (SCB) responded to the central bank’s policy rate hike by raising its prime loan rate by a quarter of a percentage point, effective as of Tuesday.
The bank also increased…
