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Increases may come faster than expected, says Kasikornbank.
Byline: Darana Chudasri
Aug. 6--Local interest rates could move upward faster than expected as local banks adjust their deposit rates in anticipation of tighter liquidity conditions over the next few months.
Kasikornbank yesterday announced increases in its corporate deposit rates by 0.25 to 0.5 percentage points, effective on Monday.
Corporate savings rates were doubled to 0.5 percent per year, with three- and six-month corporate fixed rates raised to 0.75 percent from 0.25-0.5 percent. One-year deposit rates for general customers were also hiked by a quarter-point to 1.25 percent.
The rate hikes follow similar selected rate hikes by ...
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