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Banks asked to freeze rates – finance minister

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The Bangkok Post

Commercial banks should not rush to raise their interest rates even though the Bank of Thailand (BOT) will tighten monetary policy, Finance Minister Arkhom Termpittayapaisith said on Wednesday. The central bank is widely expected to raise its key rate for the first time in nearly four years later on Wednesday. The economy remains strong and can cope with any wage increases later this year, Mr Arkhom told reporters. Earlier, heads of state banks said they would try to hold their interest rates steady for as long as they could so customers would not be impacted by a policy rate hike. Some busine…

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