Siam Commercial Bank (SCB) and Kasikornbank took the lead in cutting lending and deposit rates, following the Bank of Thailand's policy rate cut on Wednesday.
SCB announced today that it would cut the lending and deposit rates by 0.125 percentage point. KBank announced a cut by 0.13 percentage point for both lending and deposit rates.
The rate cuts will take effect tomorrow.
The central bank yesterday resolved to cut the policy rate by 0.25 percentage point to 2 per cent, mainly to boost domestic investment and consumption.