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Thai's Siam bank increases saving rate

07-16-2010 13:47 BJT

Thailand's Siam Commercial Bank has raised all interests rates for saving accounts by 10 to 55 basis points. The move is a response to the central bank's move to increase its policy rate by 25 basis points.

The president of SCB says the bank will later consider whether to increase interest rates for its loans. The increase of 25 basis points on the policy rate is meant to control the inflation rate at the target of under 3 percent. And the central bank deems it appropriate, as the country has hit a steady pace of economic recovery.

Editor:Xiong Qu |Source: CCTV.com

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