Move in response to rising financial costs Banks have indicated higher interest rates are planned for mortgages and auto loans in response to rising financial costs and a policy rate hike. However, all banks have maintained their benchmark loan rates. Nathapol Luepromchai, executive vice-president of Bank of Ayudhya, who heads the bank’s mortgage division, said banks have begun to stop offering two-year and three-year fixed-interest rate campaigns, switching to fixed rates for 12-month and six-month periods. He said this move is in line with the upward trend of interest rates. Analysts expect …

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