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 Bank & Finance
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05 Jan 07 07:57
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Local interest rates likely to drop 1% this year
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TNA
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- It is, perhaps, the attention to detail that sets Falcon Hill apart from other luxury properties in Thailand.
Kim Falcon Ravn, Denmark
Managing Director
Visit Falcon Hill, Hua-Hin
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BANGKOK, Jan 5 - Local interest rates are expected to drop by around one percentage point this year along with a global interest rate decline, according to a top banker.
Siam Commercial Bank president Jada Wattanasiritham and Chairman of the Thai Bankers' Association said Friday that global interest rates will tend to fall this year and so will local interest rates.
Khunying Jada said she saw no factors that could push interest rates up this year. Given existing factors, interest rates are likely to stay still or edge down sooner than expected.
The interest rates might begin to drop in the first half of this year and fall by around one percentage point for the whole of the year.
Lending rates are projected to move in the same direction as deposit rates.
She said SCB had not yet adjusted its business performance plan, but it will particularly monitor and assess the impacts of the New Year's Eve bombings in Bangkok for a time. (TNA)
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