The Federation of Thai Industries is concerned that higher interest rates will pressure manufacturers to increase the price of goods, plunging reeling small businesses into deeper financial trouble.
Some industry leaders are concerned about higher interest rates affecting businesses, especially small ones, in addition to weakening the purchasing power of homebuyers.
On May 31, the Bank of Thailand’s Monetary Policy Committee (MPC) voted unanimously to raise the policy rate to 2.00% from 1.75% to curb inflation risks as the economy gathers strength. Many state and private banks followed suit by raising their interest rates.
INCREASING PRESSURE
Higher interest rates will pressure manufacturers to increase goods prices, causing…
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