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26 September 2009

Thailand: Interest rates may rise on bond issue

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Thailand’ domestic interest rates are likely to start edging up since the government plans to issue bonds to raise funds of around Bt300 billion early next year, state news agency TNA reported, quoting a local banker.

The Government Housings Bank’s president Khan Prachuabmoh said the bond issue might cause interest rates to climb as some depositors chose 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. 



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