Tiptoeing through the minefield2023 should be the first time in three years Thailand can fully return to normal practices after Covid-19 was downgraded to endemic in October 2022. In 2023, both deposit and loan rates will continue to increase in accordance with the policy rate hike. Banks have raised the minimum retail rate at a lower level, compared with the minimum loan rate and minimum overdraft rate. Inflation and recessionCentral banks across the world have simultaneously hiked interest rates to tame runaway inflation in 2022. It will be at a slower rate from 2022, which had an average of 6.1% over the 11 months.

Source: Bangkok Post December 31, 2022 12:26 UTC