The Bank of Thailand plans to ask both banks and non-banks to cease encouraging unnecessary borrowing of unsecured loans early next year as it wants to see the ratio of household debt to be at a level not exceeding 80% of GDP.
The central bank does not want to see the household debt-to-GDP ratio exceed 80% in accordance with international standards and the standard of the Bank for International Settlements.
However, it will take more time for the gradual decline of the household debt ratio and balance with gradual recovery of the economy, the central bank's governor Sethaput Suthiwartnarueput said at a press briefing last weekend.
