Record Thai Household Debt Crimps Rate-Cut Room: Southeast Asia
With the BOT just announcing that interest rates were going to remain flat today, Bloomberg came out with an article highlighting how consumer debt is still a big issue (and I believe will continue to be at least for another 2-3 years) in Thailand today, enjoy the snippet and the link to the full article
“Life is short, and I want to enjoy it,” said Din, who works in the finance department of Bumrungrad International Hospital in Bangkok, and has racked up more than 200,000 baht ($6,100) in debt from buying clothes, shoes and decorating his apartment. “When I am short of money, I use personal loans. Interest rates aren’t bad. I still have room to borrow more.”
Source: Bloomberg